US – Michael Klobuchar has been appointed executive vice president and chief strategy officer of Merck as he will also become a member of Merck’s Executive Committee and lead the advancement and execution of the company’s strategy.
At the time of his appointment, Klobuchar was senior vice president of Merck Research Laboratories Finance and Global Project and Alliance Management, he also previously served as the company’s senior vice president, Corporate Strategy and Financial Planning, and president, Merck Global Health Innovation Fund.
Klobuchar has a Bachelor of Science degree in Chemical Engineering from Purdue University, a Master of Science degree in Chemical Engineering from Rutgers University and a Master of Business Administration degree from Villanova University and first joined the company in 1998.
Since its inception 130 years ago, Merck has grown significantly through a series of strategic moves that has enabled them develop into a vibrant science and technology company and through this new role, Klobuchar is expected to strategize on developing the company’s vision and activities.
“I am honored to become Merck’s chief strategy officer, and I look forward to working closely with Rob and the Executive Committee to advance our company’s strategy and amplify the impact of our company’s remarkable scientific capabilities in an evolving industry,” Klobuchar said.
“I am continually inspired by our company’s 130-year legacy of scientific innovation that saves and improves lives, and I am humbled to have the opportunity to help sustain that legacy long into the future.”
The currents focus of the company in healthcare through research and development scopes around oncology, immuno-oncology, neurology, and immunology as they the intend to fully leverage their pipelines potential.
Merck recently launched, Mavenclad, a therapy for multiple sclerosis and Bavenico, used against cancer in a bid to contribute to their earnings as they aim to achieve additional annual sales of around € 2 billion with new medicines and see significant growth potential beyond 2022.
Klobuchar has a task to deliver an annual organic sales growth of 6% to 9% (CAGR) per year in the mid-term as the company continues to outpace the market.