Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
OnNovember 17, 2021 ,Pfizer Inc. ("Pfizer" or the "Company") announced thatFrank D'Amelio will retire from his position as Chief Financial Officer and Executive Vice President of Global Supply after nearly 15 years of distinguished service with the company.Pfizer has initiated an external search for a new Chief Financial Officer.Mr. D'Amelio will continue to serve as CFO until his successor is in place.Mr. D'Amelio made the following statement in connection with this announcement, "It's been a privilege and a pleasure to work withAlbert Bourla and myPfizer colleagues. I remain a tremendous supporter of the Company, its leadership and direction."Mr. D'Amelio led both the Finance and Pfizer Global Supply ("PGS") functions, having been asked by the Company to take on PGS in 2019. Having successfully completed the initial manufacturing and supply of the Pfizer-BioNTech COVID-19 vaccine, COMIRNATY, underMr. D'Amelio's leadership, the Company had determined that PGS will begin reporting directly to the CEO. The current leader of this function,Michael McDermott , will also become a member of the Executive Leadership Team. This organizational change is driven by the company's desire to ensure continued high level focus and attention on all aspects of supply, manufacturing and quality. Following the appointment of a new chief financial officer,Mr. D'Amelio will stay on as an employee advisor for a period of up to 12 months in order to ensure a smooth transition of his CFO and PGS responsibilities. Due to the impact of separating the leadership of the finance and supply functions, the Compensation Committee of the Board of Directors determined that the application of thePfizer Executive Severance Plan was warranted andMr. D'Amelio will be eligible to receive severance pursuant to the terms of that plan following the end of his employment. A copy of the press release announcingMr. D'Amelio's retirement is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Exhibit Description 99.1 Press Release ofPfizer Inc. datedNovember 17, 2021 Cover Page Interactive Data File--the cover page XBRL tags are embedded within the 104 Inline XBRL document.
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Exhibit Index Exhibit No. Exhibit Description 99.1 Press Release ofPfizer Inc. datedNovember 17, 2021 Cover Page Interactive Data File--the cover page XBRL tags are embedded 104 within the Inline XBRL document.
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