Merck & Co’s long-time chief financial officer Peter Kellogg is to step down within the next two months and will be replaced by Baxter’s Robert Davis.
Kellogg had been in the position since joining Merck in 2007 and played a key role in the pharma company’s merger with Schering-Plough.
To help with the transition, Kellogg will work closely with Davis (pictured) when he joins on April 23, staying with Merck until May 16.
Davis, who currently serves as VP and president of Baxter’s medical products business – a role he has held since 2010, also has great industry experience.
He first joined Baxter in 2004 as chief financial officer of the company’s renal business and prior to this spent 14 years at Lilly.
Commenting on the departure of Kellogg, Merck’s CEO Kenneth Frazier said: “Peter has been an important member of the Merck leadership team and instrumental in helping to guide Merck during a period of significant change at our company and in our industry.”