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Pfizer CEO Ian Read to step down

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

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.

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