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Merck KGaA Names Pharmaceutical Head Oschmann Deputy CEO

Merck KGaA, the German maker of Erbitux cancer medicine, promoted Stefan Oschmann to deputy chief executive officer and appointed Belen Garijo as its first female board member. The stock rose to a record.

Oschmann, currently head of the pharmaceutical unit, and Garijo, now CEO of the Merck Serono biopharmaceutical division, will assume their new roles Jan. 1, the Darmstadt-based drug and chemical manufacturer said in a statement. Garijo also takes on oversight of the company’s entire pharma business.