MONSANTO MOVING CHARLES FADEN TO SEARLE MANAGEMENT TEAM
Executive Summary
MONSANTO MOVING CHARLES FADEN TO SEARLE MANAGEMENT TEAM as exec VP of the pharmaceutical company, Monsanto said in a Jan. 27 press release. As corporate VP and general manager of Monsanto's health care division, Faden played a key role in the search for Searle and Monsanto's integration of the company since the acquisition last summer. In his new position, Faden will report to Searle President O. B. Parrish, and will serve on Searle's exec cmte. with responsibility for internatl. regional operations in Asia, Canada, and Latin America. He will also be in charge of market development and technical operations. Faden is a former Squibb pharmaceutical president. Former Searle President and DEO John Robson is leaving the company on Jan. 31, and a three-man management team consisting of Parrish, Faden and Searle board Chairman Earle Harbison will be in charge of operations. Parrish, formerly president of Searle's pharmaceutical group, is the key holdover from previous management in the new Monsanto drug group. In a separate announcement, Monsanto said that Harbison has been elected Vice Chairman of the Monsanto board. Searle, operating as a wholly owned Monsanto subsidiary since October, now includes the Searle marketing and R&D units as well as Monsanto's U.S. and internatl. health care business and life sciences research and development program. Searle plans to spend between $160-$170 mil. in 1986 on R&D after a recent consolidation of the Searle and Monsanto life sciences research Monsanto is also realigning its top corporate management positions. In a Jan. 24 press release, the chemical company said that CEO Richard Mahoney will become chairman, replacing Louis Fernandez who is taking early retirement. The change is effective April 1. Exec VP and President of Monsanto Chemical Co. Francis Fitzgerald was named chief operating officer and a member of the Monsanto board. Fitzgerald was recently cited by a Fortune survey of headhunters as a prime chief exec candidate for other firms.