Pfizer is the world's largest research-based biopharmaceutical company. Our corporate headquarters is in New York City, and our major research and development locations are in the United States and the U.K. In 2008, Pfizer generated $48.3 billion in revenues, earned $8.1 billion in profits after taxes, and invested $7.9 billion in research and development. We operate in nearly every market in the world, and 58 percent of our revenues are generated outside the U.S.
Operational Structure
Pfizer's Board of Directors is elected annually by shareholders and is overwhelmingly composed of independent Directors. The Board oversees management and is ultimately responsible for management's performance. More information is available in the Governance section of this report.
Pfizer's Chairman and CEO is Jeff Kindler, who was elected to these positions in 2006. He is supported by a nine-member executive leadership team.
In 2008, we took a dramatic step to reshape Pfizer into a more flexible, entrepreneurial and accountable organization. We completely reorganized our global market-leading Pharmaceutical segment into customer-focused business units devoted to Primary Care, Specialty Care, Oncology, Emerging Markets and Established Products.
This new approach enables us to move forward with the entrepreneurial zeal inherent in small businesses, backed by the scope and strength of a global enterprise.