Albert Bourla Named Successor to Pfizer CEO Ian Read

Pfizer (NYSE: [[ticker:PFE]]) CEO Ian Read will step away from the company’s top job at the end of the year and become executive chairman of its board of directors, the company announced Monday. Albert Bourla, currently Pfizer’s chief operating officer, has been elected by the board to serve as the company’s CEO. The changes for both will become effective Jan. 1.

Read became Pfizer’s CEO in 2010, and he was named board chairman in 2011. Bourla, a 25-year Pfizer veteran, was appointed COO in January. Before that, he led the company’s Innovative Health business unit.

Author: Frank Vinluan

Xconomy Editor Frank Vinluan is a business journalist with experience covering technology and life sciences. Based in Raleigh, he was a staff writer at the Triangle Business Journal covering technology, biotechnology and energy before joining MedCityNews.com as North Carolina bureau chief. Prior to moving to North Carolina’s Research Triangle in 2007 he held business reporting positions at The Des Moines Register and The Seattle Times. View all posts by Frank Vinluan