Pfizer Inc. said Executive Chairman Ian Read will retire Dec. 31 and will be replaced by CEO Albert Bourla on Jan. 1, 2020.
Read joined the New York-based pharmaceutical giant in 1978 and was named CEO in 2010 and chairman in 2011.
The company said Bourla, who will remain as CEO, was chosen as chairman as a result of a succession plan undertaken by the board several years ago.
