Merck Announces Appointment of Organon & Co. Chief Financial Officer and Chief Information Officer
May 18, 2020 4:30 pm EDT
May 18, 2020 4:30 pm ET
KENILWORTH, N.J.–(BUSINESS WIRE)–
Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced the appointment of Matthew Walsh and Rachel Stahler as Chief Financial Officer and Chief Information Officer, respectively, for Organon & Co., its intended spinoff of its women’s health, legacy brands and biosimilars businesses.
In his new role at Organon, Matt will be responsible for the development and execution of the company’s overall financial strategy, and will oversee corporate financial planning, tax, audit, treasury, investor relations and business development. He will join Organon from Allergan where he served as Executive Vice President (EVP) and Chief Financial Officer (CFO). A seasoned finance executive with over 15 years of public company CFO experience, Matt has notable expertise in mergers and acquisitions, including 11 acquisitions and integrations and five divestitures during his nine-year tenure at Catalent where he served as EVP, CFO.
Rachel will be responsible for all information technology strategy, infrastructure, operations and delivery for Organon, and will drive digital capabilities in support of the company’s innovation strategy. Rachel also comes from Allergan, where she recently served as Chief Information Officer (CIO). Rachel has expertise in a broad range of information technology disciplines with deep understanding of the development, manufacturing and commercialization processes, having held roles in all three domains. Prior to Allergan, Rachel held CIO positions in multiple global health care organizations, including Pfizer, Syneos Health / Inventiv Health and Optimer Pharmaceuticals.
“I am pleased to welcome Matt and Rachel to the recently appointed Executive Leadership Team for Organon,” said Kenneth C. Frazier, chairman and chief executive officer, Merck. “Their deep expertise and pharmaceutical industry knowledge make them both important additions to the team at this pivotal moment in Organon’s preparation to become an independent company focused on positively impacting the lives of patients and improving public health.”
“Rachel and Matt are proven leaders who understand the complexities of a large global pharmaceutical business,” said Kevin Ali, appointed chief executive officer of Organon. “I am confident that we will benefit from their extensive experience, which will be so critical to advancing Organon’s vision to be the world’s leading women’s health company.”
The appointments of these two seasoned leaders mark another important milestone as Merck prepares Organon to operate independently. These appointments are in addition to the previously named Organon Chairman of the Board Carrie Cox, and six internal appointments to the Executive Leadership Team, announced in March 2020.
The spinoff transaction is on track for completion in the first half of 2021. For further information, please visit https://merck.unleashinggrowthpotential.com
For more than 125 years, Merck, known as MSD outside of the United States and Canada, has been inventing for life, bringing forward medicines and vaccines for many of the world’s most challenging diseases in pursuit of our mission to save and improve lives. We demonstrate our commitment to patients and population health by increasing access to health care through far-reaching policies, programs and partnerships. Today, Merck continues to be at the forefront of research to prevent and treat diseases that threaten people and animals – including cancer, infectious diseases such as HIV and Ebola, and emerging animal diseases – as we aspire to be the premier research-intensive biopharmaceutical company in the world. For more information, visit www.merck.com and connect with us on Twitter, Facebook, Instagram, YouTube and LinkedIn.
Forward-Looking Statement of Merck & Co., Inc., Kenilworth, N.J., USA
This news release of Merck & Co., Inc., Kenilworth, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.
Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the recent global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.
The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s 2019 Annual Report on Form 10-K and the company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).
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Source: Merck & Co., Inc.