Pfizer Chief Announces Early Retirement

As reported by the Telegraph, the chief of the global pharmaceutical company, Pfizer has announced his plans to take early retirement.

Jeff Kindler, who has held the position of chief executive since 2006, stated that “the combination of meeting the requirements of our many stakeholders around the world and the 24/7 nature of my responsibilities, has made this period extremely demanding on me personally”.

It is planned that the head of Pfizer’s biopharmaceuticals business, Ian C Reed will be succeeding Mr Kindler.

Under Kindler’s stewardship, the pharmaceutical company shed more than 14,000 jobs, as well as closing manufacturing plants. The company also paid $68bn (£43bn) for rival Wyeth last year in an effort to invigorate its pipeline of new products.

 

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