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Merck Names New CFO

Stock quotes in this article: MRK , BIIB  

Merck(MRK Quote) said Friday that it has hired Peter Kellogg of Biogen Idec(BIIB Quote) as its new chief financial officer.

Kellogg, who has been the biotech company's CFO since 2004, replaces Judy Lewent, who said in February that she would retire by mid-year. Kellogg will leave Biogen Idec on Aug. 10 and join Merck on Aug. 14. Biogen Idec said it would announce its plans for a successor in a few weeks.

Merck is the second Big Pharma company to announce a change in CFOs in the last 24 hours. On Thursday, Wyeth(WYE Quote) promoted Greg Norden, an 18-year veteran, to succeed Kenneth Martin, who is retiring June 30. ...

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