Pfizer appoints new chief financial officer

Pfizer has this week named Frank A D’Amelio as senior vice-president and chief financial officer of the firm, with this appointment to take effect from the middle of September this year.

Mr D’Amelio is currently senior executive vice-president of integration and chief administration officer at Alcatel Lucent and has had nearly 30 years of financial experience.

He will succeed Alan Levin in the role as chief financial officer, with Mr Levin announcing his resignation in May 2007.

Jeff Kindler, chairman and chief executive officer of Pfizer, said: “We are very pleased that an executive with Frank’s skills, integrity, global experience and proven leadership is joining our management team.”

He added that – during his tenure at AT&T, Lucent and Alcatel-Lucent – Mr D’Amelio worked to dive product innovation and robust performance, while he oversaw a period of radical change in the global technology markets when promoted to chief financial officer in May 2001.

Mr D’Amelio will have responsibility for all aspects of Pfizer’s finances, including treasury, investor development, the controller’s division and tax, while he will report directly to Mr Kindler as a member of the executive leadership team.

Last month, Pfizer published its financial report for the second quarter of the 2007 fiscal year, with the firm reporting a six per cent drop in revenues on the comparable period last year to $11.1 billion (5.4 billion pounds).