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Wyeth Announces Bernard Poussot Assumes Chairman of the Board Position

MADISON, N.J., June 27 /PRNewswire-FirstCall/ -- Wyeth (NYSE: WYE) has announced that Bernard Poussot, 56, Wyeth's President and Chief Executive Officer, has assumed the additional position of Chairman of the Board, effective today.

The announcement is pursuant to a previously announced election by the Company's Board of Directors, and is the culmination of a succession plan that began in April 2006 when Mr. Poussot was promoted to President and Vice Chairman. In January 2007, he was named President and Chief Operating Officer and was elected to the Company's Board of Directors. He became CEO on January 1, 2008.

The Company announced in April that Robert Essner, 60, had decided to retire from the Company effective June 27, 2008. Mr. Essner held the position of Chairman since January 2003 and served as Wyeth's Chief Executive Officer from 2001 to 2007.

Wyeth is one of the world's largest research-driven pharmaceutical and health care products companies. It is a leader in the discovery, development, manufacturing and marketing of pharmaceuticals, vaccines, biotechnology products, nutritionals and non-prescription medicines that improve the quality of life for people worldwide. The Company's major divisions include Wyeth Pharmaceuticals, Wyeth Consumer Healthcare and Fort Dodge Animal Health.

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