Pfizer announced Chief Financial Officer Dave Denton will step down on August 15, 2026. He will pursue an opportunity in the consumer goods industry. The mid-June announcement prompted a nearly 3% decline in Pfizer's shares. The news surprised investors.
Denton's tenure began in 2022. He participated in significant acquisitions, including Seagen. He also oversaw cost-cutting initiatives as Pfizer navigates declining COVID-19 product revenues. Cecile Guegan, Senior Vice President of Finance and a 20-year company veteran, will serve as interim CFO. A search for a permanent replacement is underway.
Pfizer reaffirmed its full-year 2026 financial forecast. The company expects revenues between $59.5 billion and $62.5 billion. It forecasts adjusted earnings per share of $2.80 to $3.00. The move signaled the leadership transition is not expected to alter near-term strategic priorities.