Merck Management

Management criteria checks 3/4

Merck's CEO is Rob Davis, appointed in Apr 2021, has a tenure of 3.67 years. total yearly compensation is $20.27M, comprised of 7.9% salary and 92.1% bonuses, including company stock and options. directly owns 0.014% of the company’s shares, worth $34.85M. The average tenure of the management team and the board of directors is 3.9 years and 5.3 years respectively.

Key information

Rob Davis

Chief executive officer

US$20.3m

Total compensation

CEO salary percentage	7.9%
CEO tenure	3.7yrs
CEO ownership	0.01%
Management average tenure	3.9yrs
Board average tenure	5.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Rob Davis's remuneration changed compared to Merck's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$12b
Jun 30 2024	n/a	n/a	US$14b
Mar 31 2024	n/a	n/a	US$2b
Dec 31 2023	US$20m	US$2m	US$365m
Sep 30 2023	n/a	n/a	US$5b
Jun 30 2023	n/a	n/a	US$3b
Mar 31 2023	n/a	n/a	US$13b
Dec 31 2022	US$19m	US$2m	US$15b
Sep 30 2022	n/a	n/a	US$15b
Jun 30 2022	n/a	n/a	US$17b
Mar 31 2022	n/a	n/a	US$14b
Dec 31 2021	US$14m	US$1m	US$12b
Sep 30 2021	n/a	n/a	US$6b
Jun 30 2021	n/a	n/a	US$4b
Mar 31 2021	n/a	n/a	US$5b
Dec 31 2020	US$7m	US$1m	US$5b
Sep 30 2020	n/a	n/a	US$9b
Jun 30 2020	n/a	n/a	US$9b
Mar 31 2020	n/a	n/a	US$9b
Dec 31 2019	US$8m	US$1m	US$6b
Sep 30 2019	n/a	n/a	US$9b
Jun 30 2019	n/a	n/a	US$9b
Mar 31 2019	n/a	n/a	US$8b
Dec 31 2018	US$7m	US$1m	US$6b
Sep 30 2018	n/a	n/a	US$3b
Jun 30 2018	n/a	n/a	US$1b
Mar 31 2018	n/a	n/a	US$2b
Dec 31 2017	US$6m	US$1m	US$2b

Compensation vs Market: Rob's total compensation ($USD20.27M) is above average for companies of similar size in the CL market ($USD5.75M).

Compensation vs Earnings: Rob's compensation has been consistent with company performance over the past year.

CEO

Rob Davis (57 yo)

3.7yrs

Tenure

US$20,273,287

Compensation

Mr. Robert M. Davis, also known as Rob, J. D., is Chief Executive Officer and Director at Merck & Co., Inc. since July 1, 2021 and is Chairman from December 01, 2022. He serves as President at Merck & Co.,...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Robert Davis	Chairman	3.7yrs	US$20.27m	0.014% $ 34.9m
Caroline Litchfield	Executive VP & CFO	3.7yrs	US$8.30m	0.0020% $ 5.1m
Richard DeLuca	Executive VP & President of Merck Animal Health	13.3yrs	US$6.20m	0.0060% $ 15.2m
Sanat Chattopadhyay	Executive VP & President of Merck Manufacturing Division	15.1yrs	US$6.24m	0.0062% $ 15.7m
Dean Li	Executive VP & President of Merck Research Laboratories	7.1yrs	US$9.78m	0.0018% $ 4.6m
Dalton Smart	Senior VP of Finance	less than a year	no data	0.00018% $ 455.6k
David Williams	Executive VP and Chief Information & Digital Officer	no data	no data	0.00079% $ 2.0m
Peter Dannenbaum	Vice President of Investor Relations	5.3yrs	no data	no data
Jennifer Zachary	Executive VP & General Counsel	6.7yrs	US$5.90m	0.0012% $ 2.9m
Cristal Downing	Executive VP and Chief Communications & Public Affairs Officer	3.3yrs	no data	no data
Betty Larson	Executive VP & Chief Human Resources Officer	less than a year	no data	no data
Johannes Oosthuizen	Senior VP & President Merck U.S. Human Health	3.9yrs	no data	0.00094% $ 2.4m

3.9yrs

Average Tenure

56yo

Average Age

Experienced Management: MRK's management team is considered experienced (3.9 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Robert Davis	Chairman	3.4yrs	US$20.27m	0.014% $ 34.9m
Pamela Craig	Independent Director	9.3yrs	US$400.00k	0.000070% $ 177.2k
Patricia Russo	Independent Director	29.3yrs	US$360.00k	0.00052% $ 1.3m
Thomas Glocer	Independent Lead Director	17.1yrs	US$430.10k	0.00020% $ 506.2k
Risa Lavizzo-Mourey	Independent Director	4.6yrs	US$365.00k	0.000040% $ 101.2k
Douglas Baker	Independent Director	2.6yrs	US$347.64k	0.000040% $ 101.2k
Inge Thulin	Independent Director	6.8yrs	US$340.00k	0% $ 0
Stephen Mayo	Independent Director	3.8yrs	US$350.00k	0% $ 0
Kathy Warden	Independent Director	4.8yrs	US$350.00k	0.000020% $ 50.6k
Christine Seidman	Independent Director	4.8yrs	US$350.00k	0% $ 0
Paul Rothman	Independent Director	9.3yrs	US$380.00k	0% $ 0
Mary Coe	Independent Director	5.8yrs	US$342.36k	0% $ 0

5.3yrs

Average Tenure

65.5yo

Average Age

Experienced Board: MRK's board of directors are considered experienced (5.3 years average tenure).

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/18 09:07
End of Day Share Price	2024/12/17 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Merck & Co., Inc. is covered by 61 analysts. 26 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
David Toung	Argus Research Company
Fabrizio Spagna	Axia Financial Research
Ishan Majumdar	Baptista Research

Merck Management

Management criteria checks 3/4

Key information

Recent management updates

Merck & Co., Inc. Appoints Surendralal L. Karsanbha to its Board of Directors, Effective January 1, 2025

Recent updates

Merck & Co., Inc. Provides Update on KeyVibe and KEYFORM Clinical Development Programs Evaluating Investigational Vibostolimab and Favezelimab Fixed-Dose Combinations with Pembrolizumab

Merck Receives Positive EU CHMP Opinion for WELIREG®? (belzutifan) as Treatment for Adult Patients with Certain Types of Von Hippel-Lindau Disease-Associated Tumors and for Certain Previously Treated Adult Patients with Advanced Renal Cell Carcinoma

Merck Announces Phase 3 KEYLYNK-001 Trial Met Primary Endpoint of Progression-Free Survival (PFS) in Patients With Advanced Epithelial Ovarian Cancer

Merck & Co., Inc. Announces First Presentation of Data from the Phase 2 Waveline-007 Trial Evaluating Zilovertamab Vedotin

Merck & Co., Inc. Announces Initiation of Phase 3 Study (MOVe-NOW) Evaluating LAGEVRIOTM (Molnupiravir) for the Treatment of Covid-19 in High-Risk Adults

Merck's Sacituzumab Tirumotecan Granted FDA Breakthrough Therapy Designation for Advanced EGFR-Mutated NSCLC

Merck Announces Pivotal Phase 3 Zenith Trial Evaluating Winrevair Met Primary Endpoint At Interim Analysis

Merck & Co., Inc. Appoints Surendralal L. Karsanbha to its Board of Directors, Effective January 1, 2025

Merck & Co., Inc.'s WELIREG (Belzutifan) Approves in China for the Treatment of Adult Patients with Certain Types of Von Hippel-Lindau (VHL) Disease-Associated Tumors

Merck Announces Phase 3 Trial of Subcutaneous Pembrolizumab with Berahyaluronidase Alfa Met Primary Endpoints

Merck Receives Positive EU CHMP Opinion for KEYTRUDA Plus Chemotherapy as First-Line Treatment for Adult Patients with Unresectable Non-Epithelioid Malignant Pleural Mesothelioma

Alexion, AstraZeneca Rare Disease and Merck Announces Positive Topline Results from the Phase 3 Komet Trial

Merck Announces Canada's Drug Agency Recommends WINREVAIR (sotatercept) for Reimbursement

New minor risk - Earnings quality

Third quarter 2024 earnings released: EPS: US$1.24 (vs US$1.87 in 3Q 2023)

Merck and Moderna, Inc. Initiates Phase 3 Trial Evaluating Adjuvant V940 (mRNA-4157) in Combination with KEYTRUDA (Pembrolizumab) After Neoadjuvant KEYTRUDA and Chemotherapy in Patients with Certain Types of Non-Small Cell Lung Cancer (NSCLC)

CDC's ACIP Recommends Merck's CAPVAXIVE™ (Pneumococcal 21-valent Conjugate Vaccine) for Pneumococcal Vaccination in Adults 50 Years of Age and Older

Merck's KEYTRUDA® (Pembrolizumab) Receives 30th Approval from European Commission with Two New Indications in Gynecologic Cancers

Gilead Sciences, Inc. and Merck Announce Phase 2 Data Showing a Treatment Switch to an Investigational Oral Once-Weekly Combination Regimen of Islatravir and Lenacapavir Maintained Viral Suppression in Adults at Week 48

Merck Announces the Presentation of Positive Results from the Phase 2B/3 Clinical Trial (Mk-1654-004) Evaluating Clesrovimab

Merck’s CAPVAXIVE™ (Pneumococcal 21-valent Conjugate Vaccine) Demonstrates Positive Immune Responses in Adults with Increased Risk for Pneumococcal Disease

Merck & Co., Inc. to Report Q3, 2024 Results on Oct 31, 2024

FDA Approves Merck's KEYTRUDA® (pembrolizumab) Plus Pemetrexed and Platinum Chemotherapy as First-Line Treatment for Adult Patients with Unresectable Advanced or Metastatic Malignant Pleural Mesothelioma

Merck Announces Overall Survival Results from the Final Analysis of the Phase 3 Keynote-811 Trial Evaluating Keytruda® (Pembrolizumab)

Upcoming dividend of US$0.77 per share

Merck Announces WINREVAIR (Sotatercept) Is Authorized for Use in Canada for Adults with Pulmonary Arterial Hypertension

Merck & Co., Inc. and EyeBio Announce Initiation of Phase 2b/3 Clinical Trial for Restoret™? for the Treatment of Diabetic Macular Edema

European Commission Approves Merck's KEYTRUDA (Pembrolizumab) Plus Padcev (Enfortumab Vedotin-Ejfv) as First-Line Treatment of Unresectable or Metastatic Urothelial Carcinoma in Adults

Merck & Co., Inc. Provides Update on Phase 3 KEYNOTE-867 and KEYNOTE-630 Trials

Merck Receives European Commission Approval for Winrevair (Sotatercept) in Combination with Other Pulmonary Arterial Hypertension (Pah) Therapies, for the Treatment of Pah in Adult Patients with Functional Class II-III

Health Canada Approves Merck's KEYTRUDA® for the Treatment of Adult Patients with Unresectable Locally Advanced or Metastatic Urothelial Cancer with No Prior Systemic Therapy for mUC, in Combination with Enfortumab Vedotin

Merck & Co., Inc. Provides Update on Phase 3 KeyVibe-008 Trial Evaluating an Investigational Fixed-Dose Combination of Vibostolimab and Pembrolizumab in Patients With Extensive-Stage Small Cell Lung Cancer

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age

Company Analysis and Financial Data Status

Data Sources

Analysis Model and Snowflake

Industry and Sector Metrics

Analyst Sources