Merck Succession
Executive Summary
Chairman Roy Vagelos reiterates Nov. 1, 1994 resignation date. Medco Chairman Marty Wygod is not a candidate to succeed, Vagelos tells annual meeting. Merck board -- nine outsiders and Vagelos and Wygod -- is well into succession issue, Vagelos reports. The Merck chairman -- an inveterate recruiter and talent selector -- has made inquiries outside the company about potential senior managers in the past year. A board dominated by outsiders may also be tempted to look beyond current management without a clear heir- apparent. Exec VP Edward Scolnick (research) and Senior VP-CFO Judy Lewent have been given the most visible outside roles as spokespeople for the firm in recent months
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Chairman Roy Vagelos reiterates Nov. 1, 1994 resignation date. Medco Chairman Marty Wygod is not a candidate to succeed, Vagelos tells annual meeting. Merck board -- nine outsiders and Vagelos and Wygod -- is well into succession issue, Vagelos reports. The Merck chairman -- an inveterate recruiter and talent selector -- has made inquiries outside the company about potential senior managers in the past year. A board dominated by outsiders may also be tempted to look beyond current management without a clear heir- apparent. Exec VP Edward Scolnick (research) and Senior VP-CFO Judy Lewent have been given the most visible outside roles as spokespeople for the firm in recent months. |