Former Pfizer Executives Ian Read And Frank D'Amelio Decline Involvement With Starboard's Efforts

(RTTNews) - Guggenheim Securities, LLC has issued a statement on behalf of former Pfizer Chief Executive Officer Ian Read and former Chief Financial Officer Frank D'Amelio. The decision has been made not to participate in Starboard Value's efforts regarding Pfizer. Full support is given to Pfizer Chairman and CEO Albert Bourla, the senior management team, and the board, with confidence that they will deliver shareholder value over time.

Recently, the Wall Street Journal reported that activist investor Starboard Value took a roughly $1 billion stake in Pfizer and is advocating for substantial changes to enhance the company's lackluster performance.

While the specifics of Starboard's plans remain unclear, the firm has reached out to Ian Read and Frank D'Amelio, both of whom have previously expressed interest in supporting Starboard's turnaround initiatives, according to the Journal.