Pfizer elects CEO Read as company chair

Pfizer ($PFE) has elected CEO Ian Read (photo) as chairman of the board. Read succeeds George Lorch, who was named lead independent director. "Over the past year, Ian has clearly demonstrated the leadership and vision necessary to drive Pfizer's strategies and achieve the company's objectives in the continued challenging industry and macroeconomic environment," Lorch said in a statement. Pfizer release