Merck Hires Biogen Officer Peter Kellogg for Chief Financial Post

Merck Hires Biogen Officer Peter Kellogg for Chief Financial Post

Biogen Idec Inc. Chief Financial Officer Peter Kellogg is leaving the biotech giant for the same position at Merck & Co.

Mr. Kellogg, 51 years old, will succeed Judy Lewent, effective Aug. 14. Ms. Lewent, 58, is retiring after 17 years as finance chief of the Whitehouse Station, N.J., pharmaceutical company.

Merck, known for promoting from within its ranks, said it conducted a comprehensive search outside the company before hiring Mr. Kellogg. "With his experience and his proven track record, Mr. Kellogg was the most qualified for the job," Merck spokeswoman Amy Rose said.

Mr. Kellogg, who also becomes an executive vice president, will oversee financial operations, investor relations, corporate development and licensing activities, and will manage business relationships with AstraZeneca PLC and DuPont Co.. He will report to Richard T. Clark, Merck's chairman, president and chief executive.

At Biogen, Mr. Kellogg was instrumental in the 2003 merger with rival Idec, and a year later became finance chief of the combined company. Biogen, based in Cambridge, Mass., said it will announce its plans for the finance chief's post in the next several weeks.

Mr. Kellogg will arrive at Merck at a time when its fortunes have greatly improved after several years of anemic earnings and the 2004 recall of its Vioxx arthritis drug.