Pfizer appoints S Sridhar as managing director for 5 years

Pharmaceutical major Pfizer has appointed S Sridhar as its new Managing Director (MD) with immediate effect for a period of five years.

"The Board of Directors of the company has appointed S Sridhar as the Managing Director of the company, with effect from March 18, 2016 for a period of five years," Pfizer Ltd said in a BSE filing.

Sridhar has worked as the Chief Financial Officer of the company for seven years and was appointed the Executive Director on the Board in May 2013.

Prior to joining Pfizer, Sridhar worked as the Finance Director of Diageo India Pvt Ltd.

Sridhar's appointment will be subject to the approval of shareholders at the ensuing Annual General Meeting of the company. 

At 1121 hours, the company's shares were trading down 1.49% at Rs 1,636.90, lower by Rs 24.70 from previous day's close.