Pfizer’s R&D Chief Mikael Dolsten to Step Down After 15 Years of Leadership

1. Departure Announcement: Pfizer announced that Dr. Mikael Dolsten, its Chief Scientific Officer and President of Research & Development, will step down after a 15-year tenure.
2. Search for Successor: The company will initiate an external search for a new Chief Scientific Officer, with Dr. Dolsten assisting in the process and remaining in his current position until a successor is found and the transition is complete.
3. Legacy: During his tenure, Pfizer received over 35 drug and vaccine approvals, including the COVID-19 vaccine and oral therapeutic, and developed a world-class R&D organization.
4. Career Highlights: Dr. Dolsten joined Pfizer through the Wyeth acquisition in 2009 and previously held positions at Wyeth, Boehringer Ingelheim, and AstraZeneca.
5. Transition Timeline: The search process is expected to last several months, likely extending through early next year.
6. Company Context: The transition occurs amid Pfizer's cost-cutting initiatives and declining sales of COVID-19 products.