Pfizer's Board of Directors has unanimously elected Dr Albert Bourla, the company's current COO, to succeed Ian Read as CEO. Ian will transition from his current role as chairman and CEO to executive chairman of the Board.

“It’s been an honour to serve as Pfizer’s CEO for the past eight years,” said Ian Read. “However, now is the right time for a leadership change, and Albert is the right person to guide Pfizer through the coming era. Albert is an energising leader who has an unwavering commitment to serving patients. With 25 years at Pfizer, he has developed an extensive knowledge of the industry and demonstrated an ability to build and grow businesses. With Albert at the helm, our dedicated colleagues across the globe are poised to deliver the next stage of growth. I look forward to working with Albert and the Board to continue serving patients and delivering value for shareholders."