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New structure for Merck post merger

Merck has announced a new organisational structure and top management team, effective on completion of its $41.1bn merger with Schering-Plough

Merck has announced a new organisational structure and top management team, effective on completion of its $41.1bn merger with Schering-Plough.

The drugmaker will restructure into five main divisions including Global Human Health (GHH), to be led by Merck's current president of GHH, Kenneth Frazier; and Merck Research Laboratories (MRL), which will be led by Peter Kim, Merck's current president of MRL. The other units include animal health, consumer health care and manufacturing.

The merged executive committee will include other Merck senior executives such as CFO Peter Kellogg, general counsel Bruce Kuhlik, and executive vice president of human resources, Mirian Graddick-Weir. Forty per cent of Schering-Plough's senior leaders will also occupy high-level roles in the merged company.

Richard Clark will remain the CEO of the new company and commented: "To complement our joint talent, we will be adding leaders from outside the two companies with specific experience in key areas."

Merck stated: "The organisational structure for the new Merck is designed to capture the opportunities in the broader and deeper in-line pharmaceutical franchises that will be created through the integration of Merck and Schering-Plough products."

The deal is expected to close in the fourth quarter but is still subject to antitrust clearance. To satisfy regulators, Merck has agreed to sell its 50 per cent stake in the Merial animal-health joint venture to partner sanofi-aventis for $4bn.

1st September 2009

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