Pfizer 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.
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."
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."