Pfizer unveils plan to replace Ian Read

Pfizer today has announced that Albert Bourla has been named Chief Operating Officer, a position that, according to the Wall Street Journal, has been purposely created for the likely successor of CEO Ian Read, who is 64 and, after 8 years as head of Pfizer, could soon step down. In his new position, Bourla will be in charge of sales, strategy and production. Research into novel drugs, finance, compliance and HR will continue to report to Read. Dr. Bourla is 56 and is currently head of Pfizer’s Innovative Health Business division.(Source: WSJ)