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Mr Kindler, who has been chief executive since 2006, said that "the combination of meeting the requirements of our many stakeholders around the world and the 24/7 nature of my responsibilities, has made this period extremely demanding on me personally".

He will be succeeded by Ian C Read, who at 57 is two years older than Mr Kindler and has headed Pfizer's biopharmaceuticals business for the past four years.

Mr Kindler faced a challenging time at the top of Pfizer, taking over shortly before the company stopped work on the development of the cholesterol drug Torcetrapib. The company, which has 4,500 employees in the UK, had hoped that the drug would be another blockbuster and help compensate for next year's loss of patent protection on Lipitor in the US. Shares in Pfizer, which were up 18 cents at $16.90 in early afternoon trading in New York, slumped 35pc during Mr Kindler's tenure.

"The departure is sudden but I doubt there was one event per se that caused Mr Kindler's retirement," said Tim Anderson, an analyst at Sanford C Bernstein.

Like much of corporate America since the financial crisis, Pfizer has cut costs in an effort to help sustain profits. Under Mr Kindler stewardship, the company has shed more than 14,000 jobs, as well as closing manufacturing plants. The company also paid $68bn (￡43bn) for rival Wyeth last year in an effort to invigorate its pipeline of new products.

Barbara Ryan, who covers the company for Deutsche Bank, said that Mr Kindler should be credited with "digging Pfizer out of a hole". However, his retirement "suggests that Pfizer's leadership, including Mr Kindler, believe it was best for him to move on now in a way that would not jeopardise or disrupt what he was able to achieve strategically over the past four years".

Analysts say the challenge facing Mr Read, who has been with Pfizer since 1978 after joining its accounts department, is to find new, innovative medicines as well as push the company more aggressively into emerging markets.

Current drugs in development include tasocitinib for rheumatoid arthritis and crizotinib, which is designed to treat lung cancer.

The geographical priorities, again echoing those of many of America's biggest companies, should be China, India, Brazil and Latin America, said analysts at Credit Agricole. That's a long way from Pfizer's roots, which lay in the New York borough of Brooklyn, where two cousins – Charles Pfizer and Charles Erhart – founded the company in 1849.

Mr Read welcomed the opportunity to lead a company on the "front lines of medical innovation".

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NEW YORK – Stocks traded in a tight range Wednesday as investors turned their attention to the Federal Reserve after there were few surprises in the midterm elections.

The Dow Jones industrial average fell 26 points in midday trading, but still near its highest closing level in more than two years. Broader indexes also fell slightly.

By the end of the day, investors will likely know exactly how much the Fed plans to spend to stimulate the economy. The central bank has hinted for two months it plans to buy Treasurys to drive interest rates lower in an attempt to spark lending and spending. However, there was still plenty of debate about the size and length of the program, particularly in the past few days.

Lawrence Creatura, a portfolio manager at Federated Investors, said the market has factored in expectations that the Fed will buy $500 billion or less of Treasury bonds. A bigger program would most likely drive stocks higher, though there is a small possibility it could spook investors' views about the health of the economy, Creatura said.

The Fed is expected to announce details of its plan when it wraps up its meeting Wednesday afternoon. Treasury prices rose slightly, sending interest rates lower ahead of the announcement.

The Dow started with slight gains before drifting lower. It was down 26.41 or 0.2 percent at 11,162.31 in midday trading.

The Dow has been flirting with its highest closing level of the year, which was 11,205.03 on April 26. If it can close above that level, it would be the Dow's best finish since September 2008, just before the financial crisis peaked.

The Standard & Poor's 500 index fell 3.86, or 0.3 percent, to 1,189.71, while the Nasdaq composite index fell 12.09, or 0.5 percent, at 2,521.43.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.54 percent from 2.59 percent late Tuesday.

Key economic reports that would have normally affected trading are being overshadowed by the Fed's meeting.

Payroll company ADP said private employers added 43,000 jobs last month after cutting jobs in September, which usually would have driven buying in the market. The report is seen as a gauge heading into the government's monthly employment report, which is due out Friday. ADP indicating a rise in employment bodes well for the government saying private employers ramped up hiring, at least somewhat, last month.

The Institute for Supply Management said growth in the service sector accelerated last month when economists were expecting a slowdown in the pace of expansion. That too would normally have provided stocks a lift.

The ISM report is closely watched because the service sector accounts for about 80 percent of the nation's jobs. Earlier this week, ISM said the growth in the manufacturing activity also accelerated last month.

There were no major surprises in Tuesday's midterm elections that should sway trading Wednesday. Analysts said the market had largely accounted for Republicans taking control of the House of Representatives and Democrats holding onto a slim margin in the Senate.

Over the longer term, investors will want to see more clarity from Capitol Hill about taxes and the costs of health care and financial regulatory reform bills that passed through Congress earlier this year.

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CONANT OPTICS ANNOUNCEMENT ON Shenzhen Stock Exchange China 01 Sept 2010

Stock Code : 300061

THE CO WILL HOLD THE 2ND EGM OF 2010 AT 09:00 ON 20SEP10.

MEETING AGENDA:
1. NOMINATION OF MR ZHONG RONGSHI AND MR YU JIANCHUN AS INDEPENDENT DIRECTOR
2. NOMINATION OF MR XIA GUOPING AS DIRECTOR
3. NOMINATION OF MR FAN SENXIN AS SUPERVISOR
4. AMENDMENTS TO THE CO’S INVESTMENT MANAGEMENT SYSTEM
5. AMENDMENTS TO THE CO’S OPERATION DECISION-MAKING AND MANAGEMENT RULES

MEETING ATTENDEES:
1. A-SHARE HOLDERS REGISTERED AT CSDCC SZN AFTER THE CLOSE OF TRADING ON 15SEP10 ARE ENTITLED TO VOTE. ORIGINAL NOTARIZED POWER OF ATTORNEY FOR VOTING IS REQUIRED.
2. DIRECTORS OF THE BOARD, SUPERVISORS OF THE SUPERVISORY COMMITTEE, SENIOR EXECUTIVES AND APPOINTED LAWYERS ARE ENTITLED TO ATTEND THE MEETING.

REGISTRATION PERIOD: 20100916

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BEILU PHARMACEUTICAL ANNOUNCEMENT ON Shenzhen Stock Exchange China 01 Sept 2010

Stock Code : 300016

THE CO HELD ITS 2ND EGM OF 2010 ON 31AUG10, DURING WHICH THE FOLLOWING PROPOSAL(S) WAS/WERE APPROVED:
1. RE-ELECTION OF DIRECTORS
2. AMENDMENTS TO THE CO’S ARTICLES OF ASSOCIATION
3. ADJUSTMENTS TO PARTIAL CONSTRUCTION CONTENTS OF PROJECT INVESTED WITH RAISED FUNDS
4. USE PLAN OF EXCESSIVE RAISED FUNDS
5. RE-ELECTION OF SUPERVISORS

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TIANJIN TEDA ANNOUNCEMENT ON Shenzhen Stock Exchange China 01 Sept 2010

Stock Code :000652

THE CO WILL HOLD THE 3RD EGM OF 2010 AT 14:30 ON 17SEP10.

MEETING AGENDA:
1. THE CO’S ELIGIBILITY FOR NON-PUBLIC OFFERING OF RMB-DENOMINATED COMMON STOCK
2. SCHEME FOR 2010 NON-PUBLIC OFFERING OF RMB-DENOMINATED COMMON STOCK
3. PLAN OF 2010 NON-PUBLIC OFFERING OF RMB-DENOMINATED COMMON STOCK
4. CONDITIONAL STOCK SUBSCRIPTION AGREEMENT ON THE NON-PUBLIC OFFERING TO BE SIGNED WITH A CO
5. FEASIBILITY REPORT ON THE USE OF FUNDS TO BE RAISED FROM 2010 NON-PUBLIC OFFERING OF RMB-DENOMINATED COMMON STOCK
6. AUTHORIZATION TO THE BOARD TO HANDLE MATTERS IN RELATION TO 2010 NON-PUBLIC OFFERING OF RMB-DENOMINATED COMMON STOCK
7. STATEMENT ON THE USE OF PREVIOUSLY RAISED FUNDS
8. THE CO’S CONNECTED TRANSACTION MANAGEMENT SYSTEM(DRAFT)
9. THE CO’S RAISED FUNDS MANAGEMENT SYSTEM(DRAFT)

MEETING ATTENDEES:
1.A-SHARE HOLDERS REGISTERED AT CSDCC SZN AFTER THE CLOSE OF TRADING ON 10SEP10 ARE ENTITLED TO VOTE. ORIGINAL NOTARIZED POWER OF ATTORNEY FOR VOTING IS REQUIRED.
2. DIRECTORS OF THE BOARD, SUPERVISORS OF THE SUPERVISORY COMMITTEE, SENIOR EXECUTIVES AND APPOINTED LAWYERS ARE ENTITLED TO ATTEND THE MEETING.

REGISTRATION PERIOD: 20100914

THE CO’S SHAREHOLDER MAY CHOOSE TO VOTE ONLINE VIA THE TRADING SYSTEM OF SHENZHEN STOCK EXCHANGE OR VIA THE WEBSITE OF HTTP://WLTP.CNINFO.COM.CN.
PART I VOTING VIA THE TRADING SYSTEM
VOTING DATE: 17SEP10
VOTING CODE:360652
VOTING ABBREVIATION:TEDA VOTING
VOTING PROCESS:
1.TO INPUT THE “BUY” INSTRUCTION TO BEGIN VOTING
2.TO INPUT THE SERIAL NUMBER OF THE AGM PROPOSALS UNDER THE ITEM OF “SUBSCRIPTION PRICE” “1 SHARE” FOR VOTING FOR, “2 SHARES” FOR VOTING AGAINST AND “3 SHARES” FOR “ABSTENTION”.

PART II VOTING VIA THE INTERNET
SHAREHOLDERS MAY CHOOSE THE CA (CERTIFICATION AUTHORITY) OR SERVICE PASSWORD FOR IDENTITY VERIFICATION. AS TO THE SERVICE PASSWORD, SHAREHOLDERS MAY APPLY FOR A PASSWORD ON THE WEBSITE HTTP://WWW.SZSE.CN OR HTTP://WLTP.CNINFO.COM.CN.
VOTING PERIOD: FROM 16SEP10 TO 17SEP10

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