Summary
Pfizer Inc. announced the upcoming retirement of its Chief Financial Officer (CFO) and Executive Vice President of Global Supply, Frank D'Amelio, who has served the company for nearly 15 years. This change marks a significant leadership transition as Pfizer begins an external search for a new CFO. Mr. D'Amelio will continue in his role until his successor is appointed and will then serve as an employee advisor for up to 12 months to ensure a smooth handover. In conjunction with Mr. D'Amelio's retirement, Pfizer is also restructuring its Global Supply (PGS) operations. Following the successful manufacturing and supply of the Pfizer-BioNTech COVID-19 vaccine, COMIRNATY, PGS will now report directly to the CEO, with current leader Michael McDermott joining the Executive Leadership Team. This move aims to maintain a high level of focus on supply, manufacturing, and quality. Mr. D'Amelio will be eligible for severance benefits under the Pfizer Executive Severance Plan.
Key Highlights
- 1Frank D'Amelio, CFO and EVP of Global Supply, is retiring after nearly 15 years with Pfizer.
- 2Pfizer has initiated an external search for a new Chief Financial Officer.
- 3Mr. D'Amelio will remain CFO until a successor is in place and will serve as an employee advisor for transition.
- 4Pfizer Global Supply (PGS) will now report directly to the CEO, separating from the CFO role.
- 5Michael McDermott, the current leader of PGS, will join the Executive Leadership Team.
- 6The organizational change for PGS is intended to ensure continued focus on supply, manufacturing, and quality.
- 7Mr. D'Amelio is eligible for severance benefits under the Pfizer Executive Severance Plan.