Pharmaceutical giant Pfizer Inc. (
) on Monday in a surprise announcement said it has named Ian C.
Read as its new CEO.
Mr. Read, 57, currently heads up the company's global
biopharmaceutical operations. He succeeds previous CEO Jeffrey B.
Kindler, who has now retired from the Company.
Departing CEO Jeffrey Kindler commented, "My nearly nine years
at Pfizer and, particularly the last four and a half as CEO, have
been extremely exciting and rewarding. I feel our team can proudly
boast of some transformational accomplishments. However, the
combination of meeting the requirements of our many stakeholders
around the world and the 24/7 nature of my responsibilities, has
made this period extremely demanding on me personally."
Pfizer shares were mostly flat in premarket trading Monday.
The Bottom Line
Shares of Pfizer (
) have a 4.31% dividend yield, based on Friday's closing stock
price of $16.72. The stock has technical support in the $15 price
area. If the shares can firm up, we see overhead resistance around
the $18-$19 price levels.
Pfizer Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here