Jeffrey Kindler is the new CEO of Pfizer Inc.

Pfizer Inc. has announced that they are replacing Hank McKinnell with Jeffrey Kindler as the chief executive officer of the company.

This decision is immediate and comes abruptly. McKinnell has been coming under criticism by the investors for his irascible nature and large compensation package. He would however continue to remain as the chairman of the company till February 2007.

Market analyst Viren Mehta spoke on this new development: “The board somewhat belatedly, but thankfully, recognized the need for a clean slate and expeditious change.”

The company said little on this big announcement. Pfizer said that they thought it was the right time to look for new leadership and they found one in their current top lawyer.

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