Sector News

Merck KGaA says Oschmann to become CEO in 2016

October 13, 2015
Life sciences

German pharmaceutical company Merck KGaA (MRK.XE) said Tuesday it has appointed Stefan Oschmann as its new Chief Executive as of April 2016.

Mr. Oschmann will succeed Karl-Ludwig Kley, who has been CEO since April 2007 and is now retiring.

Born July 25, 1957 in Wuerzburg, Germany, Mr. Oschmann has served as member of the Merck executive board since 2011. He was initially in charge of its pharmaceutical business before being appointed deputy chairman of the executive board and deputy CEO at the start of 2015.

Before joining Merck, Mr. Oschmann worked at Merck & Co. of the U.S., which holds rights to the Merck designation but isn’t affiliated with the German Merck.

“We’re … happy to have found a successor in Stefan Oschmann early on, whose strategic foresight and strong leadership have turned Merck into a respected player in the pharma industry again,” said Johannes Baillou, chairman of the board of partners at E. Merck KG.

By Natascha Divac

Source: Wall Street Journal via MarketWatch

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