By Colin Kellaher

Pfizer Inc. on Friday said Ian Read will retire as executive chairman of the drugmaker at the end of the year, adding Chief Executive Albert Bourla will assume the additional post of chairman, effective Jan. 1.

Mr. Read, who joined Pfizer in 1978 as an operational auditor, has been chairman since 2011 and served as CEO of the New York company from 2010 through 2018.

Mr. Bourla, who joined Pfizer's animal-health division in 1993, succeeded Mr. Read as CEO at the start of this year.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

September 27, 2019 08:44 ET (12:44 GMT)

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