Pfizer Faces Activist Pressure as Ex-Execs Withdraw Support for Starboard

Former Pfizer leaders Ian Read and Frank D'Amelio retract backing for Starboard's campaign, citing support for current CEO Albert Bourla.

Starboard Value has acquired a $1 billion stake in Pfizer, seeking strategic changes to boost the company's struggling performance.
Former Pfizer CEO Ian Read and ex-CFO Frank D'Amelio initially considered aiding Starboard but have now expressed full support for CEO Albert Bourla.
Starboard alleges that Pfizer insiders pressured Read and D'Amelio to publicly endorse Bourla, prompting the hedge fund to call for an investigation.
Pfizer's stock has fallen significantly since its pandemic peak, with critics questioning the management of its COVID-19 vaccine profits.
CEO Albert Bourla is scheduled to meet with Starboard representatives to discuss potential strategies for revitalizing Pfizer's market position.