Perhaps we should have foreseen/intuited this development, when Mr. Kohan began selling his share of New Merck, back in May of 2011, at around $37 a share. . . .
In any event, Richard R. DeLuca Jr. has been hired by New Merck, as executive vice president and president, Merck Animal Health, effective September 15, 2011. Mr. DeLuca will serve on the company’s Executive Committee. He will succeed Raul Kohan, who has decided to retire from the company. Kohan will remain with the company until the end of the year, to ensure a smooth transition -- per press reports:
. . . .DeLuca served as chief financial officer of BD Biosciences since 2010. Prior to that, he was president of Wyeth's Fort Dodge Animal Health division since 2007. While at Wyeth, DeLuca led a global team across all functions of the business unit with worldwide revenues of over $1 billion.
Prior to leading the Fort Dodge Animal Health division, DeLuca was chief operating officer of Fort Dodge from 2006 to 2007, where he oversaw all sales and marketing activities and implemented growth strategies internationally. He also served as the division's executive vice president and chief financial officer from 2002 to 2006, where he was responsible for all finance and administration, information systems and product supply planning and logistics activities. Prior to that, DeLuca held a variety of managerial roles at Wyeth and elsewhere since 1982. . . .
So it goes -- with Raul's retirement, there are hardly any legacy Schering-Plough top executives (EC members) left at New Merck.
But that is in no way surprising.
2 comments:
The Schering people are not all gone yet. Almost every single vice president position is still occupied by ex-SP. Will be interesting to see how the new boss deals with it. More of note is that most every person from Organon/Intervet that was in power is now gone.
I hear you -- and, at the same time, I generally think of the "key executive" team as EVPs and above -- those whose solid line reporting relationship runs directly to the CEO/Chairman (without anyone, or any layer, in between).
On that metric, I think Raul was the last remaining legacy "Schering-Plough EMC" member.
Even so -- at what I would call the operating sub level -- where you correctly point out that most VPs inside the combined animal health operating unit are legacy SP (as opposed to legacy Organon). . .
even that is another example of my thesis: Organon was a take-out by S-P; Merck then conducted a take out of S-P.
Each of these was claimed to be a "combination" -- but each was a wipe-out/bust-up.
Thanks for your keen observations -- do stop back!
Namaste
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