No Tears for Hank McKinnell

Adding that Wall Street's "frustration level [with Pfizer] is quite high," Brozak said he would have preferred a more detailed response from Kindler and the company. "He needs to reassure investors that he has a plan," says Brozak, who doesn't own shares of Pfizer and doesn't rate the stock. His firm doesn't have an investment banking relationship.

John Boris of Bear Stearns issued a research note Sunday in which he supported the choice and reaffirmed an outperform rating.

"We see Pfizer's board electing to decisively move on change -- Kindler -- rather than sticking with the status quo -- Shedlarz and Katen," he says. Boris doesn't own shares, but his firm is a financial adviser in Pfizer's plan to sell its consumer products division to Johnson & Johnson(JNJ).

"We look for Kindler to instill a blend of efficiency in Pfizer's operations coupled with the accountability of General Electric's corporate culture into Pfizer's paternalistic corporate culture," Boris says. He predicts the new CEO will hire outsiders for some executive jobs.

Aside from staying as chairman until February, McKinnell said little about his future plans. The company "is aggressively transforming its business model to build the next-generation Pfizer," he said in prepared remarks.

"With these initiatives well underway, it is time to transition to new leadership to accelerate the company's transformation," he added." I have had a great 35 years at Pfizer, and now is also the right time for me personally to pursue other business and philanthropic interests."

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