Merck CEO replaced
Adjust font size:
Manufacturing News, Source : TheManufacturer.com
Published : 05 May 2005 17:40
Pharmaceutical maker Merck today announced that Richard T. Clark has been named the company's chief executive officer, president and a member of the Merck board, replacing the embattled Raymond V. Gilmartin as head of the company.
Clark is currently the president of Merck's manufacturing division and previously served as the chairman and chief executive officer of Medco Health Solutions.
Gilmartin is stepping down as chairman, president and CEO and as a director of the company and will serve as Special Advisor to the Executive Committee. The Board has not named a new chairman. He will provide expertise in the areas of global public policy, government and regulatory affairs, and charitable contributions until March 2006, when he will retire.
Merck has been facing a proliferation of lawsuits and falling profits since the recall of its popular drug Vioxx last fall, caused by product safety concerns. In addition, Merck’s top-selling drug, Zocor, is due to lose its patent protection next year.
“I look forward to leading the change that is necessary to continue Merck's success into the future,” said Clark. “As CEO, my priorities are clear—meeting the needs of patients and building shareholder value."
Comments on this story
click here to add a comment
You must be registered & logged in to add comments
already have an account and just want to login?
Related Content
Guest Editorial: Checklist - Seven Recommendations for Improved Profits
by Abbott A. Imberman, PhD, Professor of...
more…
FKI LOGISTEX OPENS NORTH AMERICAN TECHNOLOGY & EDUCATION CENTER (TEC)
(St. Louis, Missouri, USA: July 10, 2007) FKI...
more…
Guess selects the tradecard platformand SourceView suite to optimize global trade
NEW YORK, July 10, 2007 – TradeCard Inc., the...
more…
Kimberly-Clark Professional Crosses Final Touchless Frontier With Introduction of First Electronic Bath Tissue Dispenser
ROSWELL, Ga. (July 9, 2007) – Kimberly-Clark...
more…
Boeing Celebrates the Premiere of the 787 Dreamliner
EVERETT, Wash., July 08, 2007 -- Today, Boeing...
more…
no comments yet...