The Pfizer board of directors has named Jeffrey B Kindler the company's chief executive officer. He succeeds Hank McKinnell, who will remain Pfizer's chairman of the board until his retirement in February 2007. Kindler has been elected to the Pfizer board of directors.

Kindler currently serves as Pfizer's vice chairman and general counsel and, since joining the company in 2002, has played an increasingly important role. He is responsible for many of the company's major corporate functions, including worldwide legal affairs, corporate and regulatory compliance, government relations, corporate communications, public policy development, corporate citizenship, global security and philanthropy. He has been a member of the senior-most governing body of the company since 2002.

"It is a privilege to assume responsibility for leading such a wonderful group of colleagues around the world," said Kindler. "Pfizer has a proud history of innovative medical research and the will to tackle some of the most deadly diseases known to mankind. We are delivering first-in-class medicines more quickly, including new treatments for epilepsy, cancer, diabetes, and smoking cessation among others. Our global scale gives us the ability to move quickly on opportunities anywhere we see them, and our financial strength enables us to invest aggressively in new products and technologies that can deepen the value we deliver to patients.

"The pharmaceutical industry is undergoing unprecedented change. In response, we will transform virtually every aspect of how we do business, focusing on actions that create and sustain value for our shareholders. We will make Pfizer more efficient and cost-effective, and reduce organizational layers to speed decision-making.

Kindler, 51, joined Pfizer in 2002 as senior vice president and general counsel. He became executive vice president and general counsel in 2004 and vice chairman and general counsel in 2005, leading both the legal and corporate affairs divisions.