Expanding Our Governance: Meet the Newest Members of Pfizer’s Board of Directors

Consistent with its commitment to maintain high Board standards, Pfizer recently announced the appointment of two new, independent Board members, both of whom are committed to maintaining and enhancing Pfizer’s history of excellence in governance to ensure long-term value creation for its shareholders.

Welcome Tim Buckley

Mortimer (“Tim”) J. Buckley was elected to Pfizer’s Board effective October 10, 2024 and will join the Governance and Sustainability Committee and the Audit Committee. As the former Chairman and Chief Executive Officer of the leading investment management company Vanguard, Mr. Buckley brings a wealth of knowledge and experience to Pfizer following a 33-year career with Vanguard. In addition to numerous leadership roles at Vanguard, Tim also served as Chairman of the board of Children’s Hospital of Philadelphia from 2011 to 2017.

“I’m honored to join Pfizer’s Board of Directors, a group of leaders with distinguished careers in science, government, academia, technology and business,” said Buckley. “I’m impressed with Pfizer’s dedication to patients and focus on innovation to improve health. I look forward to working with the Board and management to support the breakthroughs that change patients’ lives while concurrently driving long-term shareholder value.”

Welcome Cyrus Taraporevala

Effective June 27, 2024, Cyrus Taraporevala joined Pfizer’s Board of Directors and was appointed to the Board’s Audit Committee and the Compensation Committee.

Mr. Taraporevala served as President and Chief Executive Officer at State Street Global Advisors from 2017 until his retirement in 2022. Prior to joining State Street, he held numerous leadership roles in asset management, including at Fidelity, BNY Mellon, Legg Mason, and Citigroup. Earlier in his career, Mr. Taraporevala was a partner at McKinsey & Company, based in New York and Copenhagen. He currently serves on the boards of directors of Shell plc and Bridgepoint Group plc.

“Pfizer has a bold vision and clear strategy to advance and strengthen the company. It is a privilege to work closely with my fellow board members to advise Pfizer’s executive leadership on their priorities to drive sustained growth and create long-term shareholder value,” said Taraporevala.

“Both Tim and Cyrus are widely respective leaders with vast experience in investment management, financial markets plus leadership and global operations more broadly that will be an asset to Pfizer and enable our shareholders to continue to benefit from a Board representing a balance of experience, competencies and perspectives,” said Pfizer Chairman and Chief Executive Officer Albert Bourla.

Both join Pfizer as the company is focused on executing its five key strategic priorities following a strong first half of the year. During the first six months of 2024, Pfizer returned capital directly to shareholders through $4.8 billion of cash dividends while reaching more than 192 million patients around the world with its medicines and vaccines.¹ These efforts, combined with the significant investments in innovative science made over the past two years to drive growth in the back half of the decade, position Pfizer well for future success.

A Diverse and Uniquely Skilled Board

With the two new members elected this year, Pfizer’s Board is comprised of a total of 14 Directors with diverse skills and experiences that are highly relevant to Pfizer’s business needs and overall strategy. Each Director brings a unique set of perspectives, experiences, and abilities to Pfizer. This diversity ensures that its Board functions effectively and efficiently.

The Board and its Committees oversee our corporate strategy, including significant business and organizational initiatives, capital allocation priorities and potential value-enhancing business development opportunities (including acquisitions, licenses, and collaborations) intended to support our strategy.

“Pfizer’s Board plays a vital oversight role in the stewardship of the company,” said Bourla. “Their perspective and diverse experience on a variety of matters is critical for the long-term performance of the company.”

Take a moment to meet the diverse group of people responsible for steering and shaping the future of Pfizer here.

¹The Patients Impacted metric is calculated from Pfizer and third-party datasets. Figures may be limited given the coverage provided by external sources (e.g., calendar duration, geographic and product coverage). Numbers are estimates and in some cases use global volume, daily dosage and number of treatment days to facilitate calculations. Methodologies to calculate estimates may vary by product type given the nature of the product and available data. Patients taking multiple Pfizer products may be counted as multiple patients towards total. Numbers do not include comprehensive estimated patient counts from Ex-US Access & Affordability programs. Historical estimates may periodically be subject to revision due to restatements in the underlying data source.