Merck Germany Exec To Become Millipore's Chief
Merck Germany Exec To Become Millipore's Chief [Boston Herald]
From Boston Herald (MA) (July 9, 2010)
July 09--Longtime Merck KGaA executive Bernd Reckmann is expected to be tapped to run the new division when the German pharmaceutical giant completes its $6 billion acquisition of Billerica-based biotechnology equipment maker Millipore Corp., a Millipore executive told the Herald.
Reckmann, a German national with a doctoral degree in biochemistry, could be named to the new post as early as next week, the executive said.
Reckmann is now a general partner at Merck KgaA, Europe’s largest biopharmaceutical firm.
He joined the familly-run empire in 1986, and later served as president of Merck companies in Korea. He serves on the firm’s executive board.
When the pending acquisition is complete, Millipore President and Chief Executive Martin Madaus will begin working as a consultant to the new firm through the end of the year.
U.S.-based Merck & Co., initially a subsidiary, has been independent from the German firm for nearly 100 years.
Back in March, Merck KGaA disclosed its plans to buy Millipore, which makes filters and purifiers.
At the time, some analysts applauded the move, saying it would help diversify Merck KGaA at a time when competitors were encroaching on its market share.
European Union regulators approved the takeover this week, after determining that the new entity would not raise competition concerns.
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Posted: July 2010