Word: gilmartin
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
When Raymond V. Gilmartin decided in 1961 to apply to Harvard Business School (HBS), his parents were supportive but "mystified...
...Where Gilmartin is today is atop Merck & Co., the fastest-growing of the world's major pharmaceutical companies. Since joining Merck as CEO in June of 1994, Gilmartin has overseen an epic turnaround in the century-old giant. Last year, he led the $114 billion company to 45 percent return to shareholders, and Business Week ranked Merck number one in its industry--and sixth overall--among the Standard & Poor's 500 corporations...
Despite his impressive track record, Gilmartin, 56, remains modest. Reflecting on his selection as one of the top 25 managers for 1997 by Business Week, Gilmartin would not take full credit. "I think [the award] reflects that the company's been doing very well," he says. "The recognition is deserved by all our people, rather than just myself...
...success is especially significant considering that he had no experience in the pharmaceutical industry before becoming Merck's chief executive. Gilmartin's previous position was head of medical device manufacturer Becton-Dickinson and Company, which he joined in 1976 after serving as their strategic management consultant...
...Gilmartin says Becton's market underwent a revolution similar to the one facing drug companies today. With the advent of managed care, drug companies now face powerful buyers and little pricing flexibility amid intense competition, characteristics paralleling that of the medical device market a decade...