(BUSINESS WIRE)--Pfizer Inc. today announced that William Ringo will retire from the company. Mr. Ringo made many important contributions to advance the company’s innovative business development activities.

“Bill has accomplished a great deal in positioning Pfizer for future success,” said Jeff Kindler, chairman and chief executive officer, Pfizer. “He has helped diversify Pfizer’s portfolio through our acquisition of Wyeth; worked to create a new world-leading, specialist HIV company, called ViiV Healthcare, through our joint venture with GlaxoSmithKline; and played a leadership role in securing rights to novel, promising compounds.”

“He also connected the company more closely with the expanding opportunities in biotechnology,” Mr. Kindler said. “I know I join all Pfizer colleagues in thanking Bill for his tireless efforts and wishing him and his family all the best as he embarks on the next stage of his life.”

Mr. Ringo joined Pfizer in April 2008, after retiring from Eli Lilly & Company, where over his 28-year tenure he held a number of senior positions. Between working for Lilly and Pfizer he served in leadership roles for both venture capital and biotechnology companies.

"It has been a real pleasure to be part of Pfizer's Executive Leadership Team,” Mr. Ringo said. “Based on my four decades of experience in the industry, I truly believe the future for Pfizer is extremely bright, as our colleagues provide quality medicines to patients around the world,” he added.

Mr. Ringo, whose retirement will be effective April 30, 2010, will help his successor during a transition period.

Kristin Peck, who will succeed Mr. Ringo, has been named Senior Vice President of Worldwide Business Development, Strategy and Innovation. Most recently, she played a leadership role in the integration of Wyeth’s global operations, while serving as Senior Vice President of Worldwide Strategy and Innovation.

Working closely with the business leadership, Ms. Peck will assume responsibility for business development activities, ensuring their alignment with Pfizer’s strategic objectives. She will report directly to Mr. Kindler and join Pfizer’s Executive Leadership Team.

“Kristin has already been playing a leadership role in strategic planning for the company. Her knowledge, expertise and energy make her an excellent choice for this leadership position,” Mr. Kindler said. “Kristin will work closely with me and other Pfizer executives to advance our business development goals effectively and with an efficient use of our owners’ capital.”

Ms. Peck joined Pfizer in 2004 in the company’s strategic planning organization. Prior to Pfizer, she was a principal with the Boston Consulting Group, focusing on strategy and merger-related issues in the pharmaceutical and financial services industries, and worked in real estate financial services and private equity at Prudential and The O’Connor Group.

Ms. Peck earned her bachelor’s degree from Georgetown University and her M.B.A. from Columbia Business School.