Pfizer Inc. (NYSE: PFE) announced the initiation of the Breakthrough Fellowship Program (BFP), a nine-year commitment to increase minority representation at Pfizer. This first-of-its-kind fellowship program will work to advance undergraduate students and Fellows of Black/African American, Latinx/Hispanic and Native-American descent, minority communities that remain underrepresented at leadership levels in Corporate America. The Breakthrough Fellowship Program will recruit on an annual basis with a target of engaging 100 Fellows by 2025.
Fellows selected into the BFP will join Pfizer for a 10-week undergraduate summer internship, followed by two years of full-time employment after graduation, as well as a fully funded scholarship to complete a Master of Business Administration (MBA) or Master of Public Health (MPH) degree and a summer internship during their graduate study. Recruitment for the Breakthrough Fellowship Program will begin now for 2021 Fellows and will continue identification of students for the summer program in 2022.
“The Breakthrough Fellowship Program builds on our 2025 Opportunity Parity goals, launched in 2019, and takes them a step further to focus on not only increasing diversity across our leadership, but also creating a pipeline of diverse talent throughout the organization,” said Albert Bourla, Chairman and CEO, Pfizer. “As students receive mentoring and professional development, they also will have the opportunity to grow within the organization, which will lead to parity at all levels to create a vibrant culture where every colleague has the opportunity to succeed.”
In 2020, Pfizer updated its Opportunity Parity Goals to expand on its commitment to equity and focus on actions that foster a more inclusive culture within the company. The expanded goals include: achieving parity at the vice president and above level for U.S. minorities by increasing minority representation from 19% to 32% and doubling the underrepresented population of African-Americans/Blacks and Hispanics/Latinx by 2025. Similarly, the Opportunity Parity goal for women was updated to reach global parity of 47% at the VP+ level by 2025. In addition, the company redirected the Summer Student Worker Program, which resulted in a higher percentage of participating students from disadvantaged or underrepresented backgrounds. The company will continue to work with its minority partners to continue to increase internship opportunities for minority students.
About Pfizer: Breakthroughs That Change Patients’ Lives
At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products, including innovative medicines and vaccines. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world's premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, we have worked to make a difference for all who rely on us. We routinely post information that may be important to investors on our website at www.Pfizer.com. In addition, to learn more, please visit us on www.Pfizer.com and follow us on Twitter at @Pfizer and @Pfizer News, LinkedIn, YouTube and like us on Facebook at Facebook.com/Pfizer.
About Breakthrough Fellowship Program
This program is designed to enhance our pipeline of diverse talent of leaders. The Breakthrough Fellowship Program, first-of-its-kind, works to advance students and early career colleagues of Black/African American, Latino/Hispanic and Native American descent with a goal of developing 100 fellows by 2025. One of Pfizer’s Bold Moves is to create a workplace for all, and we are committed to increasing diversity by fostering a more inclusive workplace. Every Pfizer ‘Breakthrough’ program is designed to cultivate a pipeline of diverse talent. Everything we do is driven by our purpose.