Starboard seeks probe after former Pfizer execs pull support for its campaign

(Reuters) – Starboard Value has asked Pfizer (NYSE:PFE) to set up a special committee to investigate allegations that two of its former senior executives were forced to publicly declare support for CEO Albert Bourla, the hedge fund said on Thursday.

Former Pfizer CEO Ian Read and ex-CFO Frank D’Amelio, who were reportedly helping the activist investor in its plan to push the company for a turnaround, said late on Wednesday that they would not support Starboard.

The hedge fund said it was made aware that the two executives had been contacted by “people within Pfizer”, who had threatened to commence litigation against them unless they released a statement supporting Bourla.

Pfizer did not immediately respond to a request for comment.

Starboard said it was scheduled to meet Bourla and possibly other members of the board on Oct. 16 to “discuss the best path forward for Pfizer.”