Pfizer, Inc. ( PFE ) announced it is starting the process to find a new chief scientific officer and president of Pfizer Research and Development.

The Details: Mikael Dolsten, the current Chief Scientific Officer and President, is set to leave the company after 15 years. Dolsten will stay in his current role until a new chief scientific officer is hired.

Pfizer ( PFE ) obtained more than 35 drug and vaccine approvals during Dolsten’s tenure for products related to therapies for inflammatory diseases, cardiovascular, stroke prevention, hemophilia and cancer.

“I am incredibly proud of all that we have accomplished in creating a world-class R&D organization with amazing talent, industry-leading scientific platforms, and a first-in-class pipeline and portfolio,” said Dolsten. 

The process of finding Dolsten’s replacement is anticipated to last several months. Separately, on July 1, the company announced the election of Cyrus Taraporevala to its Board of Directors and Audit Committee and Compensation Committee.

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PFE Price Action: At the time of publication, Pfizer ( PFE ) shares are trading 0.73% lower at $27.73 per data from Benzinga Pro.

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