USA – Pfizer Inc has said that David Denton, Chief Financial Officer of Lowe’s Cos Inc, would succeed company veteran Frank D’Amelio as the drugmaker’s finance chief in the United States, effective May 2.
Lowe’s announced on Friday that Denton would leave to pursue another opportunity at a publicly traded company outside the industry.
He comes to Pfizer from Lowe’s Companies, Inc., where he was Chief Financial Officer and Executive Vice President.
Prior to joining Lowe’s in 2018, Mr. Denton was the Executive Vice President and CFO of CVS Health, where he was in charge of all financial planning and management.
He was instrumental in CVS’ transformation from a retail pharmacy to the health solutions company it is today, and he oversaw the full integration of Caremark into CVS.
Mr. Denton held several leadership positions prior to becoming CFO at CVS, including senior vice president and controller/chief accounting officer.
Prior to joining CVS, he worked for the management consulting firm Deloitte Touche Tohmatsu.
Denton also negotiated the terms and financing for CVS’s December 2017 acquisition of Aetna. The US$70 billion transaction was completed in November 2018.
Mr. Denton takes over for Frank D’Amelio, CFO and Executive Vice President, who announced his intention to leave Pfizer after a distinguished 15-year career.
In November, Pfizer announced D’Amelio’s retirement and began an external search for his replacement. Mr. D’Amelio has agreed to stay on for the duration of the transition.
Mr. Denton brings to the table over 25 years of finance and operational experience, including over 20 years in the healthcare industry.
As a result, he brings to Pfizer a unique perspective on payers’ roles, patient needs, and the rapidly changing healthcare landscape.
Mr. Denton will be a key thought partner to Pfizer’s CEO and Executive Leadership Team, overseeing all aspects of the company’s financial management.
Mr. Denton will be a member of Pfizer’s Executive Leadership Team, reporting to Albert Bourla, Chairman and CEO.
He will be in charge of all corporate finance functions, such as audit, treasury, taxation, insurance, operations planning and analysis (OP&A), corporate controllership, and business finance and analytics.
He holds a bachelor’s degree in business administration from Kansas State University in the United States and an MBA from Wake Forest University’s Babcock Graduate School of Management. He is a member of the Tapestry, Inc. board of directors.
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