Pfizer names new chief operating officer

Pfizer has announced the appointment of Albert Bourla to the newly-created position of chief operating officer, effective as of January 1st 2018.

Mr Bourla has served as president of Pfizer's Innovative Health business since the beginning of 2016, with revenues for the division growing 11 percent operationally in 2016 and nine percent in the first nine months of 2017 under his leadership.

The company has chosen to create this new role to allow Ian Read, Pfizer's chairman and chief executive officer, to spend more time focusing on issues such as long-term strategic direction, continued research and development productivity, and engagement with government and industry leaders on key issues facing the sector.

Mr Read said: "The naming of a chief operating officer comes at a time when our business is strong, as we continue to advance our strategy while also managing a dynamic and challenging external environment."

This appointment means that John Young – current group president of Pfizer Essential Health – will take over Mr Bourla's previous role as president of Pfizer Innovative Health, while Angela Hwang – president and general manager for Pfizer Inflammation and Immunology will move into the role vacated by Mr Young.

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