Pfizer CEO Kindler Surprisingly Retires

Pfizer (NYSE: PFE) CEO Jeffrey Kindler has unexpectedly announced his retirement after 4.5 years at the helm of the largest U.S. pharmaceuticals firm. Ian Read will takeover for the 55-year old for Kindler.

Kindler oversaw Pfizer's massive $68 billion takeover of Wyeth. Pfizer also reported impressive clinical trial results for a cancer therapy called crizotinib and a pill for treating rheumatoid arthritis, both of which have the potential to be blockbusters, according to the Wall Street Journal.

Kindler joined Pfizer in 2002 and became CEO in 2006. Read has been at Pfizer since 1978.

Kindler said the demands of the job led to his retirement.

Kindler was among the industry's leading proponents of the health overhaul, and his support drew criticism from conservatives in Washington, according to the Journal.