Merck (MRK) announced that Adam Schechter, President of Global Human Health (GHH) division will step down from his present role at the end of this year and will become an advisor to CEO.
The pharma giant also stated that it is establishing two new executive positions to oversee its commercial organization and named Frank Clyburn as Chief Commercial Officer and Michael Nally as Chief Marketing Officer effective January 1, 2019.
Schechter joined the Kenilworth, New Jersey-based pharma company in 1988 and after serving in several senior roles, he became the president of GHH in 2010.
Schechter has been responsible for the performance of Merck’s human health business and also developed Merck’s commercial organization. He also led the amalgamation of Merck and Schering-Plough in 2009.
Frank Clyburn, who will assume the role of Chief Commercial Officer, has held a number of leadership positions across Merck. Clyburn joined Merck in 2008 and currently serves as the President of the Global Oncology business.
Clyburn will directly report to CEO Kenneth Frazier and be accountable for all operations and P&L across Merck’s human health commercial portfolio globally.
Michael Nally, who will become the Chief Marketing Officer, most recently led the company’s Vaccines business. Nally, who has been in the company since 2003, will also directly report to CEO Kenneth Frazier and be responsible for Global Marketing and long-term franchise strategy across the portfolio.
Shares of Merck, which is doing business as MSD outside the US and Canada, achieved a new 52-week high ($80.19) last Tuesday and opened up 0.65% at $77.92 when the market opened today.