Business

Pfizer CFO To Retire

by Sloan T. Wilson, The Chicago Times

November 17, 2021

NEW YORK — Pfizer Inc announced on Wednesday that Chief Financial Officer Frank D’Amelio, 63, would leave the company after nearly 15 years.

The pharmaceutical company has begun an external search for D’Amelio’s replacement, who also served as executive vice president of global supply.

D’Amelio was instrumental in the company’s 2011 sale of its capsule-making unit to private equity firm KKR & Co for $2.38 billion, as well as the subsequent sale of the nutrition business to Nestle.

D’Amelio also oversaw the 2019 spin-off of Pfizer’s off-patent branded drugs business, which was merged with generic drugmaker Mylan NV.

Mike McDermott, who oversaw Pfizer’s COVID-19 vaccine production and supply, will be promoted to executive vice president and chief global supply officer.

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