(Bloomberg) — Pfizer Inc. CEO Albert Bourla stated that he will do “whatever it takes” to maintain profit growth, which includes additional cost reductions, in response to claims of mismanagement from activist investor Starboard Value LP. “We’re very dedicated to increasing our EPS,” he mentioned in an interview with Bloomberg on Tuesday. The company has revealed plans for $22.75 billion in cost reductions until the end of 2023, but Bourla stated, “If additional cuts are necessary, we will implement them.” Bourla is trying to respond to the harsh criticism from Starboard’s CEO Jeff Smith, who has criticized Pfizer’s management for excessive spending on acquisitions and poor returns from its internal research and development. Smith, whose company is said to have invested $230 billion in the pharmaceutical company, has also suggested that replacing Bourla “might be a logical choice.” Forecast Increased. “I like my job and believe we are on a very positive path,” Bourla stated when asked how much longer he intended to remain in the position. “That’s the board’s choice regarding how they want to manage the company.”
