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Home Industry News Merck says new CEO is not ‘interim choice’

Merck says new CEO is not ‘interim choice’

25th November 2005

Merck AG has denied that its new CEO is only an interim replacement, Reuters has reported.

German newspaper Die Welt had reported that Michael Roemer, who was appointed as chief executive officer after Bernhard Scheuble resigned last week, would only hold the post for a short time whilst the business looked for another candidate.

However, a communications officer strongly denied the claim to the news agency, saying that Mr Roemer was there for the foreseeable future.

“Mr Roemer is not an interim solution. Mr Roemer has still got a contract for many years,” they said.

Bernhard Sceuble resigned on Tuesday, following what was thought to be a row between him and the family which owns Merck. The company denied that there was any disagreement between the parties.

“Professor Scheuble’s leaving had nothing to do with acquisitions. It had nothing to do with strategy, operational developments or any other financial matter,” a spokeswoman said on Wednesday.

Shares in the firm tumbled by five per cent on the day, over concern at the direction of the company under the new CEO.

track© Adfero Ltd

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