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Will Ian Read and Frank D'Amelio join Pfizer board by December 31, 2024?
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Resolution / Starting Odds
Ian Read joins Pfizer board • 25%
Frank D'Amelio joins Pfizer board • 25%
Both join Pfizer board • 25%
Neither joins Pfizer board • 25%
Official announcements from Pfizer or Starboard Value, news reports
Story
Starboard Value Acquires $1 Billion Stake in Pfizer, Shares Rise 3%
Oct 7, 2024, 02:50 AM
Activist investor Starboard Value has acquired a roughly $1 billion stake in Pfizer and is advocating for strategic changes to improve the company's performance. The Wall Street Journal reports that Starboard has approached former Pfizer executives Ian Read and Frank D'Amelio to assist in its efforts. Pfizer has been under pressure to enhance its performance, particularly after overestimating future demand for pandemic-related products. The pharmaceutical giant's market cap stands at approximately $160 billion, making Starboard's stake a significant but not controlling interest. Following the news on Sunday, Pfizer's shares rose by 3%.
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External candidate from a major pharmaceutical company • 25%
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