Pharma firm Merck has appointed Anand Nambiar as managing director replacing Claus-Dieter Boedecker who resigned, as per a public disclosure.
Claus-Dieter Boedecker has resigned as he plans to relocate to Germany, his home country, and requested the firm’s board to relieve him from his responsibilities by January 31, 2015.
Anand Nambiar has been working as managing director of Optronics Division at AZ Electronic Materials, a Merck KGaA firm.
Earlier this year, Merck said it is acquiring NASDAQ-listed life sciences services firm Sigma-Aldrich for $17 billion. It will acquire all outstanding shares of Sigma-Aldrich for $140 per share in cash. The agreed price represents a 37 per cent premium and is expected to be immediately accretive to Merck’s EPS and EBITDA margin. With this acquisition, Merck expects to achieve annual synergies of over $340 million, which should be fully realised within three years after closing the deal.
(Edited by Joby Puthuparampil Johnson)