Pfizer is a leader in corporate governance, and good corporate governance is fundamental to Pfizer's business. A cornerstone of governance at Pfizer is our shareholder outreach program, through which we regularly engage with our investors and stakeholders around the world to gain insight into the burgeoning issues at the forefront of their business policies and guidelines. We aim to seek a more collaborative approach to specific issues of importance to us and our industry. Shareholder input helps us to continue to drive innovations in policies and disclosures on corporate political activities and other key governance areas.

Our annually elected board of directors is comprised entirely of independent directors other than our Executive Chairman, Ian Read, and our CEO, Albert Bourla. Each Director provides a unique business perspective, experience and skills, all valuable to the Company. The board plays a vital oversight role, which fosters shareholder value and affects stakeholder confidence, through discussions with senior leaders and external advisers covering a wide range of matters including strategy, financial performance, compliance, and public policy.

Regulatory reforms have resulted in the transformation of the corporate governance landscape and Pfizer has embraced these amendments, and in some cases has been ahead of the game in adopting innovations that are now requirements. It is essential that we practice responsible business principles, and continue to demonstrate our commitment to excellence to sustain value for our investors and stakeholders.