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R&D Chief, CFO Leave Pfizer

Alan Levin resigns as CFO to pursue other opportunities.

Adding to the changes in top management since Jeffrey Kindler became CEO last summer,

Pfizer

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says its R&D chief and chief financial officer will leave the company.

Pfizer announced Sunday night that John LaMattina, senior vice president and head of global research and development, will retire by year-end. LaMattina, 56, who joined Pfizer in 1977, will remain until the company chooses a successor.

Additionally, Alan Levin has resigned as CFO "to pursue career opportunities outside Pfizer." Levin will remain until a replacement is named. Levin, 45, joined Pfizer in 1987 and was appointed chief financial officer in February 2005 when David Shedlarz was promoted to vice chairman.

Levin becomes the fifth U.S. Big Pharma CFO to depart since last year. Financial chiefs at

Wyeth

(WYE)

,

Merck

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,

Johnson & Johnson

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and

Eli Lilly

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have either left their respective companies or announced their intention to do so.

Pfizer has been restructuring its management ever since Kindler, 51, replaced Hank McKinnell as CEO in July. Kindler, who became chairman in December, was one of three vice chairmen vying for McKinnell's job. One contestant, Karen Katen, left Pfizer earlier this year, but Shedlarz has taken on extra duties.

Kindler reorganized management in August, creating an "executive leadership team" of eight top officers, including LaMattina, to streamline decision-making. Earlier this year, Pfizer announced it would cut its worldwide staff by 10%, or approximately 10,000 employees by the end of 2008.

The cuts include about 2,200 U.S. sales representatives who left the company by the end of 2006.