NEW YORK — Pfizer announced Monday that former CVS executive David Denton will join the company as chief financial officer (CFO) and executive vice president effective May 2. Denton will be a member of Pfizer’s Executive Leadership Team reporting to chairman and chief executive officer, Albert Bourla.
He joins Pfizer from Lowe’s Companies where he served as CFO and executive vice president. Mr. Denton succeeds Frank D’Amelio, CFO and executive vice president, who recently announced his intention to leave Pfizer after a notable 15-year career. D’Amelio has agreed to remain in place through a transition period.
Denton has more than 25 years of finance and operational expertise, including more than 20 years in the healthcare sector. As a result, he brings to Pfizer a unique perspective on the role of payers, the needs of patients, and the rapidly evolving healthcare landscape.
Prior to joining Lowe’s in 2018, Denton served as executive vice president and CFO of CVS Health, where he was responsible for all aspects of their financial planning and management. He played a key role in CVS’s transformational journey from a retail pharmacy to the health solutions company it is today and led the full integration of Caremark into CVS. In December 2017, Mr. Denton played a pivotal role in CVS’s acquisition of Aetna, structuring and negotiating the terms and financing for the transaction.
Before becoming CFO at CVS, Mr. Denton held several leadership roles, including senior vice president and controller/chief accounting officer. Prior to CVS, he was with the management consulting firm of Deloitte Touche Tohmatsu.
At Pfizer, Denton will be a key thought partner to the company’s CEO and Executive Leadership Team while overseeing every aspect of the Company’s financial management. He will be responsible for all corporate finance functions, including audit, treasury, tax, insurance, operations planning and analysis (OP&A), corporate controllership, and business finance and analytics.
“Our company’s continued financial strength is essential to Pfizer’s ability to deliver on our purpose and to create long-term value for all our stakeholders,” said Albert Bourla, chairman and chief executive officer, Pfizer. “Dave brings with him deep financial experience, a track record of achievement and true insights into today’s healthcare system. For these reasons, he is the perfect leader to take the helm of our talented finance organization and deliver a comprehensive strategic financial vision that will help drive Pfizer’s future growth and success.”
Bourla continued, “My sincere thanks to Frank D’Amelio for his numerous and lasting contributions to Pfizer, including mentoring so many of Pfizer’s current outstanding leaders and improving the lives of so many patients around the world.”
“We are living at a time of unprecedented scientific advancement and Pfizer is a company that is unparalleled in its ambition to make a difference in patients’ lives. For me, there could be no professional opportunity greater than leveraging all my years of finance and business experience to play a role in helping deliver on this aspiration, working alongside a high-performing team that has been built for growth and enhancing shareholder returns,” said Denton.