The Carlyle Group Names Former Pfizer Chairman and CEO Ian Read as an Operating Executive for Global Healthcare
WASHINGTON - The Carlyle Group (NASDAQ: CG) today announced that Ian Read, former Chairman and CEO of Pfizer, has joined the firm as an Operating Executive in the Global Healthcare Group.
As an Operating Executive, Read will play an active role in helping Carlyle’s healthcare team find compelling investment opportunities and helping build, grow and transform companies across Carlyle’s global platform. He will advise Carlyle’s healthcare portfolio company executives and management teams on growth strategies, leadership and talent development, effective operations and risk management. Read joins a broad and diverse group of nearly 50 Carlyle Operating Executives, Senior Advisors and Operating Advisors who help Carlyle invest wisely, create value and have a meaningful impact on companies across all industries.
Stephen H. Wise, Managing Director and Global Head of Healthcare for The Carlyle Group, said, “We see increasing opportunities for investments that bring both innovation and efficiency to global healthcare solutions. We’re thrilled to welcome Ian to the Carlyle team following his more than 40 years at one of the world’s largest biopharmaceutical companies. We believe his expertise and leadership will support our team in building and growing great companies and finding new investment opportunities across the healthcare spectrum.”
Read said, “I am excited to partner with a world-class team of investment professionals who understand the complexities of pharma investing and I look forward to leveraging my sector expertise to build on Carlyle’s impactful value creation plans in the space.”
Carlyle has a wide breath of experience investing in pharmaceuticals and pharmaceutical services, including PPD, Albany Molecular Research, Millicent, WelldyneRx, iNova, Ambio, Qualicaps, X-Chem. Since inception, Carlyle has invested over $13 billion of equity in 50 transactions in the healthcare space across geographies.
Read began his career at Pfizer in 1978 and was named CEO in 2010 and Chairman of the Pfizer Board of Directors in 2011. During Read’s tenure as CEO, Pfizer generated a total shareholder return of 250%, achieved 32 FDA approvals for new medicines, invested significantly in R&D, and completed several transformational transactions to help strengthen Pfizer’s pipeline. Previously, Read served as Senior Vice President and Group President of Pfizer’s Worldwide Biopharmaceutical Businesses, overseeing five global business units: Primary Care, Specialty Care, Oncology, Established Products and Emerging Markets. Prior to which, Read held positions in several of the company’s largest, fastest-growing operations, including Chief Financial Officer, Pfizer Mexico, and Country Manager, Pfizer Brazil. Read continues to serve on the board of directors of Kimberly-Clark. He will join the board of directors of Viatris upon the completion of the planned combination of Mylan N.V. and Upjohn Inc., which is expected to occur in mid-2020.
Read earned his BS in chemical engineering from London University Imperial College.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $222 billion of assets under management as of September 30, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 33 offices across six continents.
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