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Investing.com -- Pfizer Inc. (NYSE:PFE) is undergoing a corporate restructuring that includes the departure of Sally Susman, the company’s chief corporate affairs officer who has managed public communications for nearly two decades, Bloomberg reports.
According to Bloomberg, citing an email sent by Chief Executive Officer Albert Bourla on Tuesday, Susman’s responsibilities will be divided among five executives at the company. The email described the move as a mutual decision. Four of Susman’s top deputies will also leave the company.
The executives who will take over Susman’s duties will evaluate each division "for potential simplification and cost reduction," Bourla wrote in the companywide message.
This restructuring comes as Pfizer works to cut more than $7 billion from its spending through 2027. The cost-cutting initiative aims to strengthen the company’s balance sheet following a significant decline in demand for its Covid-19 vaccine and treatment since the pandemic’s peak.
Susman, who joined Pfizer in 2007, has effectively served as the company’s chief reputation officer, leading communications, government relations, and patient advocacy efforts across five presidential administrations.
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