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Merck replacing CFO with Baxter executive in April

Drugmaker Merck replacing CFO Kellogg with Baxter International executive Davis in April

The Associated Press

WHITEHOUSE STATION, N.J. (AP) -- Drugmaker Merck & Co. has named a new chief financial officer to succeed Peter N. Kellogg, who's held the post for seven years.

Merck, based in Whitehouse Station, N.J., said Thursday that Robert M. Davis will become CFO on April 23.

Davis, 47, also will oversee corporate strategy and business development. Currently he's president of Baxter International Inc.'s medical products business, where he managed the integration of its worldwide kidney treatment and medication delivery businesses into one division.

Davis previously worked at drugmaker Eli Lilly and Co., then joined Baxter in 2004 as treasurer and served as CFO from 2006 through May 2010.

Kellogg, 58, helped execute Merck's 2009 acquisition of fellow New Jersey drugmaker Schering-Plough Corp. He'll stay on board until May 16 to ensure a smooth transition.