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Pfizer’s Kindler quits the Fed

Dec 29, 2010

Former Pfizer (pfe) chief Jeffrey Kindler stepped down from the board of the Federal Reserve Bank of New York.

Kindler, who quit the giant drugmaker in a surprise announcement three weeks ago, said Wednesday he’ll leave the Fed board tomorrow after just over a year as a director.

Kindler said in his resignation letter, dated last Thursday, that as a former CEO he no longer fills the Fed’s need for “current, high level information about the business environment.”

His term ends in December 2012. The Fed is expected to hold a special election to appoint someone to serve out the rest of Kindler’s term early next year.

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