MSD CFO to retire in July

Merck, Sharp and Dohme (MSD) has announced that its executive vice-president and chief financial officer (CFO) Judy C Lewent is to retire from her post in July. Ms Lewent has been CFO of MSD since 1990.

Having joined MSD in 1980, Ms Lewent was promoted to vice-president and treasurer in 1987 before assuming the role of president of finance and CFO three years later.

MSD reports that Ms Lewent’s work provided a “vital link” between research and development investment and innovation at the firm.

Richard T Clark, chief executive officer of MSD, said: “Judy is a world-class CFO. Her business and financial acumen, keen strategic thinking and analytical skills have made her an invaluable advisor and colleague.”

He added that Ms Lewent’s early announcement had given the firm plenty of time to achieve a stable transition in the position of CFO.

MSD commented that it would consequently begin recruitment efforts for a successor to Ms Lewent, with candidates from both inside and outside of the company being considered.

Last December, MSD appointed Richard T Clark as chairman of the board of directors of the company, with the appointment taking effect from April 24th 2007, while Samuel O Their was appointed as lead director of the firm.