Canadian native Dr. Henry McKinnell named to become new Chief Executive Officer of Pfizer IncCANADIAN NATIVE DR. HENRY MCKINNELL NAMED TO BECOME NEW CHIEF EXECUTIVE OFFICER OF PFIZER INC
Native of Victoria, B.C., and graduate of University of British Columbia Will head world's largest pharmaceutical company effective Jan. 1, 2001, on retirement of William C. Steere Jr.
| NEW YORK - August 10, 2000 |
Canadian native Dr. Henry McKinnell, current President and Chief
Operating Officer, will become Chief Executive Officer of Pfizer Inc on January
1, 2001 on the retirement of William C. Steere, Jr., Chairman of the Board and
Chief Executive Officer, Pfizer Inc announced today.
In a letter to
employees, Mr. Steere, 64, also announced that he will stay on as Chairman of
the Board until the company's annual shareholder meeting in April 2001, at which
time the plan, as recommended by Mr. Steere and approved by the Board of
Directors, is for Dr. McKinnell to be elected Chairman of the Board. At the
request of the Board, Mr. Steere has agreed to remain a Pfizer director after
his retirement.
"Throughout my more than 40 years with Pfizer," Mr. Steere wrote, "I have
always been proud of this company. But I have never been more proud of Pfizer's
management, conduct, people, and values than I am today. The fact that we are
integrating Pfizer and Warner-Lambert so quickly and smoothly reflects the hard
work and dedication of thousands of our colleagues."
Mr. Steere added that he is proud that Pfizer has never had to look outside
the company for its leaders. "I have no doubt that Pfizer's executive succession
will proceed smoothly and that our company will continue to grow and prosper
under Hank's leadership."
Dr. McKinnell was born in Victoria, British Columbia, and earned his
bachelor's degree in business from the University of British Columbia before
moving to Stanford University in the U.S. where he earned his MBA and PhD in
business. He joined Pfizer in 1971 in Tokyo and over the years held position of
increasing responsibility for Pfizer subsidiaries around the world, including
being President of Pfizer Asia, based in Hong Kong. He has also served as
Pfizer's Executive Vice-President, Chief Financial Officer and President of the
Pfizer's Medical Technology Group. He was named to his current position in May
of last year.
Over the past 10 months, Dr. McKinnell spearheaded Pfizer's successful
acquisition of Warner-Lambert, creating the largest pharmaceutical company in
the world and one of the world's top ten companies in terms of market
capitalization.
Pfizer Inc discovers, develops, manufactures and markets leading prescription
medicines for humans and animals, as well as many of the world's best-known
over-the-counter brands. This year, Pfizer expects global sales of more than
US$31 billion and has a research budget of US$4.7 billion. Global headquarters
are in New York City where the company was founded in 1849.
Approximately 2,300 persons are employed by Pfizer operations across Canada.
Canadian headquarters of the Pfizer Pharmaceuticals Group, as well as Pfizer
Global Research and Development Canada, are in Kirkland, Quebec. The company's
Warner-Lambert Consumer Group is headquartered in Canada in Scarborough,
Ontario, and the Animal Health Group in Canada operates from London, Ontario. A
pharmaceutical manufacturing facility is located in Arnprior,
Ontario.
-30-For more information please contact:
1-866-9Pfizer (1-866-973-4937)
These press releases were issued in Canada and are intended as reference information for Canadians. The information contained in each press release was accurate at the time of issuance, and Pfizer Canada assumes no responsibility for updating the information to reflect subsequent developments. |
