Pfizer CFO Frank D'Amelio to retire
By Michele Maatouk
Date: Wednesday 17 Nov 2021
(Sharecast News) - Pfizer said on Wednesday that Frank D'Amelio will retire as chief financial officer and executive vice president of global supply after nearly 15 years at the company.
An external search for a new CFO has begun and D'Amelio has agreed to stay on through the process and serve in a consulting role. Pfizer has appointed Mike McDermott as executive vice president and chief global supply officer with effect from 1 January.
Chairman and chief executive Albert Bourla said: "I want to thank Frank for his many years of service to Pfizer as CFO and for the impact he has had on the Company and the patients we serve.
"Frank has driven a strategic vision for the Company's financial success, and he leaves Pfizer in a strong position for future growth having been instrumental in our multi-year transformation to an industry leading, science-based biopharmaceutical company."
McDermott has been with Pfizer for 18 years, having started in 2003 as head of then Wyeth's Biotech Manufacturing Operations at its Pearl River, New York site.
"Under McDermott's leadership, the company was able to rapidly ramp-up production and delivery of the Pfizer-BioNTech Covid-19 vaccine, supplying more vaccines doses than any other company over the past year," Pfizer said. "As a result of his efforts, Pfizer expects to achieve the goal of producing 3 billion doses of Covid-19 vaccines in 2021 and 4 billion doses in 2022."
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