Jeffrey B. Kindler, the CEO of the world’s biggest drugmaker, stepped down Sunday unexpectedly – after less than five years heading Pfizer Inc., a period in which he reorganized most of the company’s operations and made an imprint on the industry.
His successor, Ian Read, who has run Pfizer’s worldwide pharmaceutical operations since 2006, takes over immediately.
Kindler, a lawyer who joined Pfizer in 2002, revamped its sprawling pharmaceutical sales operation into five divisions that gave their leaders more control and responsibility.
In a surprise announcement late Sunday evening, Kindler, 55, said he’s leaving Pfizer after 4 1/2 “extremely demanding” years to recharge his batteries. Kindler said he plans to spend more time with family for a while and prepare for new challenges.
Read, 57, is well enough known to industry analysts and others in the business community that Pfizer spokesman Ray Kerins said the company is not planning an analyst conference call or other announcements on Monday.