"Dr Boshoff is the ideal leader to propel Pfizer's R&D engine forward and transform it into a world-leading organisation with a more focused strategy, driving the delivery of additional impactful breakthrough medicines with blockbuster potential," said chief executive Albert Bourla.

Pfizer said on Wednesday it has named company veteran and oncology head Chris Boshoff as its chief of research and development. The appointment comes at a time when Pfizer is facing criticism from activist investor Starboard for overspending on big acquisitions and failing to produce profitable new drugs from those deals or its internal research and development.

Pfizer Inc. named oncology research head Chris Boshoff as the drug company’s chief scientific officer, replacing Mikael Dolsten, whose planned departure was announced earlier this year.