Mr. Chair, Members of the Board, Shareholders:

Catholic Healthcare West, Christus Health, the Basilian Fathers of Toronto, the Sisters of Charity of New York and the Adrian Dominican Sisters, members of the Interfaith Center on Corporate Responsibility, are sponsors of Item #7, which asks that the Board establish a policy of separating the roles of Chairman and Chief Executive Officer so that an independent director who has not served as an executive officer of the company serves as Chair of the Board of Directors.

The Interfaith Center on Corporate Responsibility is a coalition of faith-based institutional investors working for peace, justice and stewardship of Earth since 1971. ICCR members control over $100 billion in collective assets. We believe separation of the roles of Chairman and Chief Executive is sound corporate governance practice. An independent Board Chair will facilitate the primary purpose of the Board to protect shareholders’ interests by providing independent oversight of management and by providing strategic direction and guidance to our Company. We are convinced that an independent board structure will enhance the Board’s ability to address the complex policy issues facing our Company, in this country and around the globe.

The marketplace for pharmaceuticals is changing: market forces are not working to the advantage of consumers, the public is beginning to have lower confidence in products (which is a reputational risk for the industry and our company), and pressure is building for changes in the provision of health care services and products. We observe the newly enacted Massachusetts health insurance legislation as a signal of society’s desire to address the malady of the health care crisis here in the United States. We also observe the industry as heavily dependent on direct to consumer advertising, lobbying of public officials and undisclosed/unclear pricing mechanisms. We observe an industry lobbying aggressively internationally, sometimes engaging in lawsuits, in opposition to measures that would facilitate peoples’ access to prescription drugs.

We ask: How long can that model continue as society, domestically and internationally, moves to address health disparity?  The Wall Street Journal reported earlier this month on the rising institutional investor interest in corporate governance. A survey of 300 investors from the around the world by Institutional Shareholder Services found 63 percent responding that corporate governance will become more relevant in the years ahead. Over 70 percent of mutual funds indicated increased focus on corporate governance with that interest increasing in years ahead. Thus it is our perspective that separation of the roles of Chair and CEO will better position Pfizer in the investing world, as well as to be a positive force in society, including in the quest to assure universal access to life-saving medicines.

We urge support for Item 7.

Thank you.