Dive Brief:

• Pfizer CFO Dave Denton will step down from his post on Aug. 15 “for a professional opportunity outside of the pharmaceutical industry in consumer goods, which he has accepted,” the company said Thursday in a press release. 
• The New York City-based pharmaceutical giant named Cecile Guegan, now SVP of finance, global biopharmaceutical business, as interim CFO, effective Aug. 16 as the company undertakes an internal and external search for Denton’s successor.
• “Dave has been a steady and trusted steward of Pfizer’s financial health, and we are grateful for his leadership, especially during some of the most important business transactions in our recent history, including Seagen, Biohaven, and Metsera, that will serve Pfizer well for years to come,” CEO and Chairman Albert Bourla, said in a statement in the release. “We wish him the very best as he returns to the consumer goods industry.”  

Dive Insight:

Denton took Pfizer’s finance reins in 2022, joining from his post as finance chief of retailer Lowe’s Companies. The news coincided with a leadership change at fellow vaccine-maker Moderna at a time when easing COVID-19 pandemic pressures appeared to be paving the way for executive exits, CFO Dive previously reported.  

Guegan, who has worked at Pfizer for more than two decades, is currently directly responsible for financial operations and reporting of the company’s biopharmaceutical business. 

Denton’s departure is not related to financial or operating results or any disagreements with the company on financial, operational, accounting or reporting policies or practices, the company said in a securities filing. 

This is a developing story. Read more on our website for live updates.