Management Turnover as Change Agent

Wednesday, February 6, 2008

Recommended Reading - Schering-Plough CEO, Fred Hassan Reputation at Risk

Bill Berkrot, a Reuters reporter, in today's Los Angeles Times wrote a story entitled , Vytorin Puts A CEO in a Pinch, The fallout can tarnish the reputation of Schering-Plough's SGP (NYSE) Fred Hassan. Hassan who is considered the white knight who brought Schering-Plough back after coming aboard in 2003 now,
...finds himself at the center of a firestorm involving the cholesterol drug that fueled the company's reversal of fortune. The furor over Vytorin threatens the reputation of the drug industry's golden boy and, some say, his job. Schering-Plough and Merck & Co., partners on Vytorin, have been on the defensive since mid-January, when preliminary data of a long-completed study were finally released. The mixed results and the time lag led to accusations that the companies hid or intentionally delayed them to protect the cash cow that accounts for about 70% of Schering's profit.
For the full story on the problems Hassan and Schering Plough face read the story.

For more:

CNN Money (Feb. 11)

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