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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