Pfizer appoints new chief financial officer

Pfizer (NYSE: PFE) has named David M. Denton as its new chief financial officer (CFO) and executive vice president.

Denton, who now serves as CFO of Lowe’s Companies, will officially take the role on May 2.

Before taking on his role at Lowe’s (NYSE:LOW), Denton served as the CFO of CVS Health (NYSE:CVS). Denton oversaw CVS’s $70 billion acquisition of the managed health care company Aetna.

Denton has more than 20 years of experience working in the healthcare sector.

Pfizer’s current CFO, Frank D’Amelio, has had a 15-year career at the company.

“Our Company’s continued financial strength is essential to Pfizer’s ability to deliver on our purpose and to create long-term value for all our stakeholders,” said Albert Bourla, Pfizer CEO, in a statement. “Dave brings with him deep financial experience, a track record of achievement and true insights into today’s healthcare system. F…

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Eli Lilly CFO departs amid accusations of ‘inappropriate’ communications with staff

Eli Lilly (NYSE:LLY) has announced that its chief financial officer Joshua Smiley has resigned.

An independent investigation with external counsel discovered “consensual though inappropriate” communications between Smiley and a number of employees, according to a Lilly statement. 

Lilly has installed a replacement, Anat Ashkenazi, who has worked at the company for almost 20 years. “We are confident in Anat’s ability to serve as our next CFO given her impeccable track record of leadership and business success across nearly all major parts of the company, most recently as corporate controller and head of strategy,” said David A. Ricks, Lilly CEO, in prepared remarks. 

Smiley forfeited more than $20 million in cash and equity awards upon exiting the company. 

Smiley will receive $9,000 every two weeks through July as he facilitates the transition. 

Smiley had worked at Lilly since 1995, becoming CFO in 2018. 

LLY shares fell 2% after th…

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