Pfizer Inc. (PFE) said Monday that its Board of Directors has elected current President and Chief Executive Officer, Ian Read, as Chairman of the Board and Chief Executive Officer, effective immediately.
Read succeeds George Lorch as Chairman of the Board. The independent members of the board named Lorch as Lead Independent Director.
Pfizer also announced the election of Marc Tessier-Lavigne and Helen Hobbs to its Board of Directors, effective immediately.
Dr. Michael Brown, who has served as a Pfizer director since 1996, has notified the company of his intention to retire from the board at the Annual Meeting of Shareholders in April 2012.
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