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Pharmaceutical giant Pfizer announced Monday that CEO and Chairman Ian Read will step down and transition to executive chairman of the company's board of directors.

The details: Read has served as CEO since 2010. He'll be replaced by Dr. Albert Bourla, Pfizer's current COO and a 25-year veteran of the company.

Pfizer CEO Ian Read to step down

He will be replaced by COO Albert Bourla.

Photo: Mark Neuling/CNBC/NBCU Photo Bank via Getty Images

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Pfizer

Health Care

Pharmaceutical giant Pfizer <a class="gtmContentClick" data-vars-link-text="announced" data-vars-click-url="https://www.pfizer.com/news/featured_stories/featured_stories_detail/pfizer_announces_ceo_succession" data-vars-content-id="36734d6e-4424-4d11-9622-d0b4d904465a" data-vars-headline="Pfizer CEO Ian Read to step down" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.pfizer.com/news/featured_stories/featured_stories_detail/pfizer_announces_ceo_succession" target="_blank">announced</a> Monday that CEO and Chairman Ian Read will step down and transition to executive chairman of the company&#x27;s board of directors.The details: Read has served as CEO since 2010. He&#x27;ll be replaced by Dr. Albert Bourla, Pfizer&#x27;s current COO and a 25-year veteran of the company.

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Pfizer CEO Ian Read to step down

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