Merck KGaA replaces Schnee; Sanofi-Aventis makes senior executive change and extends Genzyme tender offer

Following rumor and speculation over the weekend, this morning German drug major Merck KGaA (MRK: DE) announced that Stefan Oschmann will become a member of the executive board and general partner of the company, succeeding Elmar Schnee, who leaves “for personal reasons.”

A report by the Financial Times Deutschland said the Merck was planning not to renew Mr Schnee’s contract, which expires next year, adding that he had been held responsible for setbacks in gaining approval of its oral multiple sclerosis drug candidate cladribine (The Pharma Letters passim).

In line with the duties of his predecessor, Dr Oschmann - who joins the German firm from USA-based Merck & Co - will be responsible for both the Merck Serono and Consumer Health Care divisions and personally assume the lead of the Merck Serono division as of January 1, 2011.