Moderna and Pfizer Hire CFOs

Vaccine makers Pfizer and Moderna have appointed company outsiders as chief financial officers as they seek ways to deploy some of the cash the companies generated during the covid-19 pandemic. 

New York-based Pfizer announced that David Denton will become CFO on May 2. Denton has been CFO of household goods retailer Lowe's Cos since 2018. He previously worked with CVS Health Corp, the Woonsocket, R.I. and was leading the finances of its drugstore and health-service chain.

Meanwhile, Moderna announced James Gomez as the finance chief. Mr Gomez previously worked as a CFO at Dentsply Sirona Inc, a Charlotte-based dental supply company.  

One way to deploy capital could be through acquisitions. The company announced last week that it would acquire ReViral Ltd., a privately held pharmaceutical company, for up to $525 million, subject to certain conditions. In 2018, while Denton was at CVS, the company announced the acquisition of insurance company Aetna for $70 billion.