Pfizer Board of Directors Names Ian C. Read President and Chief Executive Officer

By Pfizer Inc., PRNE
Saturday, December 4, 2010

Read Succeeds Jeffrey B. Kindler, who has Retired from the Company

NEW YORK, December 6, 2010 - Pfizer Inc. (NYSE: PFE) today announced that its Board of Directors has
elected Ian C. Read, 57, currently head of the Company's global
biopharmaceutical operations, as President, Chief Executive Officer and
Director. Mr. Read succeeds Jeffrey B. Kindler, who has retired from the


The Board's Lead Independent Director, Constance J. Horner, said, "In
2006, Jeff Kindler took on the challenge of transforming Pfizer in the face
of enormous changes in the global health care marketplace and significant
patent expirations of major products, including Lipitor. Acting with the
highest level of ethics and professionalism, he moved aggressively to drive
change at the Company, including putting new, more focused and agile business
units in place, building and enhancing world class compliance systems,
recruiting talented new leaders, and refocusing and streamlining operations
in every part of the world. He also led the acquisition of Wyeth, which
brought the Company valuable in-line and pipeline products and capabilities
in attractive growth areas, including vaccines and biologics. Due to the
efforts of Jeff, the executive leadership team and Pfizer's talented
employees around the world, the Company is now a stronger, more diversified
and more focused company."

Mr. Kindler commented, "My nearly nine years at Pfizer and, particularly
the last four and a half as CEO, have been extremely exciting and rewarding.
I feel our team can proudly boast of some transformational accomplishments.
However, the combination of meeting the requirements of our many stakeholders
around the world and the 24/7 nature of my responsibilities, has made this
period extremely demanding on me personally. Now that we are about to
complete a full year of operating Pfizer and Wyeth together, with our
world-class team fully in place, I have concluded the time is right to turn
the leadership of the company over to Ian Read. Ian is an outstanding and
experienced pharmaceutical executive who I know will make the next phase of
the company's future a successful one. He is more than ready to take on these
responsibilities and I am excited at the opportunity to recharge my
batteries, spend some rare time with my family, and prepare for the next
challenge in my career.

Ms. Horner added, "In the last four years as President of Pfizer's
pharmaceutical businesses, Ian has redefined our go to market approach with
the creation of global business units and has brought to product development
a focus and commitment to advance only medicines that have clear value to our
customers. Today's business leaders need to understand global markets, drive
change and innovation, and move quickly to adapt to competitive pressures.
Ian's track record throughout his career has demonstrated these exact

Mr. Read said, "I am honored to lead an organization with outstanding and
dedicated colleagues on the front lines of medical innovation. We have a
broad portfolio that spans the entire spectrum of human and animal health,
from vaccines to biologics to primary care, specialty care, oncology,
consumer products, nutritionals and beyond. I have great confidence in the
strength of our company and our leaders and will be looking at the
performance and potential of all of our businesses to ensure we are
delivering value to our customers and shareholders. We have all the elements
for success — financial strength, global reach, a disciplined focus on the
therapeutic areas with the strongest growth potential and a talented and
dedicated workforce."

Since 2006, Mr. Read has led Pfizer's Worldwide Biopharmaceutical
Businesses which now comprises five global business units - Primary Care,
Specialty Care, Oncology, Established Products and Emerging Markets - and
accounts for approximately 85 percent of Pfizer's annual revenues. He was
responsible for more than 40,000 Pfizer colleagues. His leadership team
consisted of senior executives directing Pfizer development and commercial
operations in 180 nations.

Mr. Read joined Pfizer in 1978 and quickly assumed positions of
increasing responsibility in Latin America. In 1996, he was appointed
President of Pfizer's International Pharmaceuticals Group, with
responsibility for Latin America and Canada. He was named Corporate Vice
President in 2001, and assumed responsibility for Europe in addition to
Canada. Mr. Read later added the Africa/Middle East and Latin American
regions to his leadership responsibility.

The Board will elect a non-executive Chairman from its current membership
at its next regularly scheduled meeting that will take place within the next
two weeks.

Pfizer Inc: Working Together for a Healthier World(TM)

At Pfizer (NYSE: PFE), we apply science and our global resources to
improve health and well-being at every stage of life. We strive to set the
standard for quality, safety and value in the discovery, development and
manufacturing of medicines for people and animals. Our diversified global
health care portfolio includes human and animal biologic and small molecule
medicines and vaccines, as well as nutritional products and many of the
world's best-known consumer products. Every day, Pfizer colleagues work
across developed and emerging markets to advance wellness, prevention,
treatments and cures that challenge the most feared diseases of our time.
Consistent with our responsibility as the world's leading biopharmaceutical
company, we also collaborate with health care providers, governments and
local communities to support and expand access to reliable, affordable health
care around the world. For more than 150 years, Pfizer has worked to make a
difference for all who rely on us. To learn more about our commitments,
please visit us at

Media: Ray Kerins, +1-212-733-9203, or +1-917-324-0080; Investors: Chuck Triano, +1-212-733-3901

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