CEO Gilmartin Will Survive Recall

Updated from Sept. 30

Disgruntled shareholders and terrified Vioxx patients may be clamoring for the head of Merck (MRK Quote) Chairman and CEO Raymond Gilmartin, but they should be careful what they wish for.

Crisis-management experts warn that axing the beleaguered Gilmartin would be a drastic mistake that makes Merck's problem -- a voluntary recall of the arthritis drug Vioxx, which has been found to increase the risk of stroke and heart attacks in patients who take it -- into something even worse.

Firing Gilmartin would create two problems, leaving management scrambling to not only find a way to recover after the Vioxx recall but also an executive who would be willing to step into the crosshairs and lead the way back. ...