Germany-based Merck has appointed Stefan Oschmann as new chairman of the executive board and CEO. The appointment will take effect with the end of the Annual General Meeting on April 29, 2016. Oschmann will succeed Karl-Ludwig Kley, who will retire after nine years as head of Merck.

Oschman has been a member of the executive board since 2011. He was initially in charge of the pharma business before being appointed as deputy chairman of the executive board and deputy CEO at the beginning of 2015, responsible for strategy and innovation.

Prior to joining Merck, Oschmann worked for more than 20 years for U.S. pharma company Merck Sharp & Dohme. He is president of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) and vice president of European Federation of Pharmaceutical Industries and Associations (EFPIA).

Kley already had been a member of the supervisory board of Merck and the board of partners of E. Merck since 2004. In 2006 he became deputy chairman of the executive board of Merck before taking over as chairman in 2007. Previously, he was chief financial officer at Deutsche Lufthansa for eight years and joined the airline’s supervisory board in 2013. In addition, he is vice president of the German Chemicals Association (VCI) and a member of the steering committee of the Federation of German Industries (BDI).