A top executive with New York-based Pfizer Inc. has left the pharmaceuticals giant to lead an online juggernaut.
Cavan M. Redmond, previously the group president of animal health, consumer health care and corporate strategy for Pfizer, was announced as the new CEO of WebMD Health Corp., based in New York. The animal health unit is based in Madison.
Redmond joined Pfizer during the company's acquisition of Wyeth, where he was first executive vice president and general manager of the biopharma business unit. Redmond also was on the Pfizer executive leadership team.
"Cavan brings unparalleled expertise and leadership in both biopharmaceutical and consumer health care to WebMD," said Martin J. Wygod, chairman of WebMD, in the announcement. "He has a successful track record in indentifying and leveraging new revenue opportunities, driving efficiency and establishing sustainable growth platforms … Cavan's proven ability to drive strategy and leverage the value of brands will be invaluable."
Pfizer declined to comment on the announcement, but spokeswoman Joan Campion said animal health President Juan Ramón Alaix will now directly report to Ian Read, chairman and CEO. Campion also said the strategic evaluation of the animal health unit will continue.
According to Hoovers, which tracks business data, WebMD Health Corp. had more than $588 million in sales last year, and employs 1,700 people.