07:46 AM EDT, 10/08/2024 (MT Newswires) -- Pfizer's ( PFE ) former top executives have pitched activist investor Starboard Value's plans to Chief Executive Albert Bourla and at least three other directors, Financial Times reported Tuesday, citing people familiar with the matter.

Former chair and CEO Ian Read and former finance chief Frank D'Amelio, who have been advising Starboard, spoke with the Pfizer ( PFE ) directors on Sunday, before Starboard disclosed its $1 billion stake in the drugmaker, according to the report.

Pfizer's ( PFE ) board discussed Starboard's stake at a meeting on Monday, the report said, citing a person familiar with the issue. Certain shareholders, including one of the 25 largest, favor a shake-up, the report added.

Pfizer ( PFE ) did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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