Tuesday, April 11, 2017

As C. Robert Kidder Retires From Merck Board -- Dr. John H. Noseworthy Nominated To Join...

This is a much expected (and regularly telegraphed, by the annual SEC filed proxies) transition. It will leave Merck's board at 13 members. [In addition, we learn in the SEC filing that Chairman and CEO Kenneth Frazier made over $21 million last year. But he clearly earned it. So no point in any additional posting on it.]

Not much else to say.

From the overnight Dr. Noseworthy announcement/press release then:

. . . .“We are pleased to nominate Dr. John Noseworthy to stand for election to the Merck board and look forward to benefiting from his first-hand insights about patient care and health care delivery as a leader of one of the largest non-profit health systems in the United States,” said Kenneth C. Frazier, chairman and chief executive officer, Merck.

Dr. John H. Noseworthy is president and chief executive officer of Mayo Clinic, a not-for-profit organization operating in five states that is dedicated to medical care, research and education. Prior to his current appointment, he served as chair of Mayo Clinic’s Department of Neurology, medical director of the Department of Development, and vice chair of the Mayo Clinic Rochester Executive Board. Dr. Noseworthy is a professor in the Department of Neurology and served as editor-in-chief for Neurology, the official journal of the American Academy of Neurology. . . .

Now you know. I'm sure Dr. Noseworthy will serve honorably -- and keep his word, to be independent. Onward.



Anonymous said...

I know you are always up on these things but...in case: http://www.fiercepharma.com/financials/merck-s-frazier-gets-his-first-raise-but-total-compensation-drops-as-sales-stall


condor said...

Thank you so much Anon. --

Actually -- I only barely mentioned his 2016 pay, in the bracketed material in my first paragraph above this morning, because I think. . . . he's earned it (which different than being worth it). So I won't catch any immediate vapors over it -- even if no CEO, globally -- is really worth that kind of money. It is the going rate for first class talent.

Do stop back -- Namaste