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Starboard seeks probe after former Pfizer execs pull support for its campaign
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Starboard seeks probe after former Pfizer execs pull support for its campaign
Oct 10, 2024 11:06 PM

Oct 10 (Reuters) -

Starboard Value has asked Pfizer to set up a special

committee to investigate allegations that two of its former

senior executives were forced to publicly declare support for

CEO Albert Bourla, the hedge fund said on Thursday.

Former Pfizer CEO Ian Read and ex-CFO Frank D'Amelio, who

were reportedly helping the activist investor in its plan to

push the company for a turnaround, said late on Wednesday that

they would not support Starboard.

The hedge fund said it was made aware that the two

executives had been contacted by "people within Pfizer", who had

threatened to commence litigation against them unless they

released a statement supporting Bourla.

Pfizer did not immediately respond to a request for

comment.

Starboard said it was scheduled to meet Bourla and

possibly other members of the board on Oct. 16 to "discuss the

best path forward for Pfizer."

(Reporting by Bhanvi Satija in Bengaluru; Editing by Anil

D'Silva)

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