Jeffrey B. Kindler, who retired as Pfizer‘s chairman and chief executive at the end of 2011, has joined Lux Capital as a venture partner, the firm announced on Wednesday.
The hiring marks Mr. Kindler's most prominent business appointment since his contentious departure from Pfizer. He became the pharmaceutical giant's chief in 2006, having joined four years before from McDonald's as general counsel.
His signature achievement was orchestrating the $68 billion takeover of Wyeth in 2009, kicking off a huge wave of health care mergers by drug makers looking to replenish depleted product pipelines. However, he was all but forced out amid a flare-up in tensions at the company over his management style and his inability to revive a flagging stock price.
At Lux, Mr. Kindler will again be called upon for his deal-making skills, helping to find new health care investments and working with existing portfolio companies. The firm has already invested in the likes of Cerulean Pharma and Kala Pharmaceuticals.
“With tremendous leadership experience in the healthcare industry, Jeff has an appreciation for the intersection of novel science, product development and commercial transactions,†Robert Paull, a co-founder and managing partner at Lux, said in a statement. “As Lux continues to make new investments at the cutting edge of healthcare and as our life sciences portfolio matures, Jeff will prove to be an invaluable resource.â€
Mr. Kindler said in his own statement: “I have great respect for the work Lux Capital is doing to build and back companies addressing some of healthcare's biggest challenges.â€
Besides his new post at Lux, Mr. Kindler works as a senior adviser to Paragon Pharmaceuticals and as a director at Starboard Capital Partners, a private equity firm.
