Merck last week nominated John Noseworthy, MD, president and CEO of Rochester, Minn.-based Mayo Clinic, to serve on its board of directors, reports Minneapolis/St. Paul Business Journal.
Here are four things to know.
1. If elected, Dr. Noseworthy would join the board next month, replacing C. Robert Kidder.
2. As a board member, he would receive $110,000 in compensation and $170,000 in deferred stock from Merck annually, according to the report.
3. Dr. Noseworthy already sits on Mayo Clinic's executive board and serves as a health governor for the World Economic Forum. A spot on Merck's board would represent his first major leadership position in the private sector, according to the report.
4. To avoid potential conflicts on interest, Dr. Noseworthy would recuse himself from any Mayo decisions involving Merck, Mayo Clinic officials said.
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