Pfizer Names Frank A. D'Amelio Chief Financial Officer

PfizerPfizer today announced that Frank A. D'Amelio, a senior executive with almost three decades of extensive operating and financial experience at AT&T, Lucent Technologies and Alcatel-Lucent, including serving as both chief operating officer and chief financial officer at Lucent, will become Pfizer’s Senior Vice President and Chief Financial Officer effective in mid-September.

Mr. D'Amelio, who is currently Senior Executive Vice President, Integration and Chief Administrative Officer at Alcatel-Lucent, will join Pfizer’s Executive Leadership Team and report to Pfizer Chairman and Chief Executive Officer Jeff Kindler. He will have responsibility for all aspects of the company's finances, including treasury, tax, the controller's division and investor development. He succeeds Alan Levin, whose resignation from Pfizer was announced in May.

"We are very pleased that an executive with Frank's skills, integrity, global experience and proven leadership is joining our management team," said Mr. Kindler. "Through almost three decades at AT&T, Lucent and Alcatel-Lucent in both operating and financial roles, Frank was a senior executive in global companies undergoing the kind of rapid and complex changes we have undertaken at Pfizer in response to our own rapidly changing markets.

"He drove product innovations and strong performance in the operating units he led before assuming the role of Lucent's Executive Vice President, Administration and Chief Financial Officer in May 2001, which was early in a period of fundamental change in the global technology markets. Over the next five years he played a crucial role in recapitalizing and restructuring the company, culminating in the 2006 Alcatel-Lucent merger, where he has led the global integration of the two companies. He has extensive knowledge of the capital markets as well as broad experience working with the investment community, regulatory bodies and rating agencies. As CFO, Frank will lead an accomplished team in our Finance division, and I am confident he will bring valuable new perspectives to our business and financial strategies as we continue to respond aggressively to our challenges and opportunities and work to enhance the value of Pfizer."

Mr. D'Amelio said, "I am delighted to join Pfizer, a company with outstanding management, great people and what I truly believe is a very promising future in the forefront of medical innovation. In just a short period of time, Jeff has demonstrated strong leadership in setting a course for Pfizer to change the way it does business, so that it will be in the best possible position to take advantage of growing global demand for high-quality healthcare. Together with my finance colleagues, we'll work hard to ensure that all aspects of Pfizer's global financial strategy and operations help to advance these critical business imperatives.

"Pfizer is in the business of saving lives through innovative medicines. I can't think of a more important mission, and I look forward to working with my new colleagues and everyone on the management team as we develop and execute plans to enhance Pfizer's competitive advantages and its long-term shareholder value."

Mr. Kindler added, "Our Vice Chairman, David Shedlarz, will work closely with Frank, and I know Frank will benefit from David's perspective on all aspects of our business."

Mr. Shedlarz leads Pfizer's strategic planning and business development, as well as animal health, manufacturing, information technology, internal audit, operations/facilities and procurement.

"Together with Jeff and our entire team, I am committed to ensuring that we execute on our immediate business priorities as well as our new strategy for business development," said Mr. Shedlarz. "Frank is a strong addition to our team and brings a diverse set of skills in global finance and multinational operations that I am sure will be of great value to Pfizer. We know what we need to do to improve our performance and capitalize on the many opportunities we see to drive innovation in healthcare across our global markets."

Mr. D"Amelio began his career in 1979 at AT&T Bell Labs, where he held a variety of financial, accounting and general management positions. Before moving into an operations role at Lucent, Frank was Vice President and Chief Financial Officer of Lucent's Network Systems Business. When Lucent was created in 1996, he helped establish the financial structure of the new company and was part of the road show team that met with investors around the world during Lucent’s initial public offering. Prior to being named Executive Vice President, Administration and CFO of Lucent in May 2001, Frank was Group President of Lucent's Switching Solutions Group, where he led the manufacturing, research and development, marketing and product management of Lucent's switching, access and applications software businesses, a multi-billion dollar global business.

As Lucent's Executive Vice President Administration and Chief Financial Officer from 2001 to 2006, Mr. D'Amelio was responsible for executive management and oversight of all financial, accounting, human resources, law, labor relations and real estate operations of the company. In early 2006 he was appointed Lucent's Chief Operating Officer, responsible for leading the operations of the business including sales, the product groups, the services business, the supply chain, IT operations and labor relations. After Lucent announced its merger with Alcatel later in 2006, Mr. D'Amelio was appointed Senior Executive Vice President, Integration and Chief Administrative Officer.

Mr. D'Amelio is a member of the Board of Directors of Humana, Inc. He holds a bachelor's degree in accounting from St. Peter's College and an MBA in finance from St. John's University.

For further information, please visit:
http://www.pfizer.com

Most Popular Now

Cannabis extract helps reset brain function in psy…

Research from King's College London has found that a single dose of the cannabis extract cannabidiol can help reduce brain function abnormalities seen in people with psyc...

New cancer treatment uses enzymes to boost immune …

Researchers at The University of Texas at Austin have developed a new approach to treating cancer using enzyme therapy. The enzyme, PEG-KYNase, does not directly kill can...

For first time in 40 years, cure for acute leukemi…

Acute myeloid leukemia is one of the most aggressive cancers. While other cancers have benefitted from new treatments, there has been no encouraging news for most leukemi...

Bayer accelerates six new startups

Changing the experience of health: that's the focus of the six startups which the Bayer G4A team has included in the Accelerator program this year. The young companies fr...

Novartis receives European Commission approval of …

Novartis today announced that the European Commission (EC) has approved Kymriah® (tisagenlecleucel, formerly CTL019). The approved indications are for the treatment of pe...

Shire completes sale of oncology franchise

Shire plc (LSE: SHP, NASDAQ: SHPG) announces today that it has completed the sale of its Oncology franchise to Servier S.A.S. for $2.4 billion. The franchise includes the...

Antioxidant reduces risk for second heart attack, …

Doctors have long known that in the months after a heart attack or stroke, patients are more likely to have another attack or stroke. Now, a paper in the Journal of the A...

Novartis to divest the Sandoz US dermatology busin…

Novartis today announced it has agreed to sell selected portions of its Sandoz US portfolio, specifically the Sandoz US dermatology business and generic US oral solids po...

New tablet production facility in Ingelheim: Cente…

Boehringer Ingelheim held a groundbreaking ceremony for the construction of a new production facility for innovative drugs. This new Solids Launch facility will focus on ...

Tezepelumab granted Breakthrough Therapy Designati…

AstraZeneca and its partner Amgen Inc. (Amgen) today announced that the US Food and Drug Administration (FDA) has granted Breakthrough Therapy Designation for tezepelumab...

Pfizer terminates domagrozumab (PF-06252616) clini…

Pfizer Inc. (NYSE: PFE) announced that it is terminating two ongoing clinical studies evaluating domagrozumab (PF-06252616) for the treatment of Duchenne muscular dystrop...

Pfizer and Astellas amend clinical research protoc…

Pfizer Inc. (NYSE:PFE) and Astellas Pharma Inc. (TSE:4503, President and CEO: Kenji Yasukawa, Ph.D., "Astellas") announced amendments to the protocols for two registratio...