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Merck KGaA (MKGAF.PK) Shaken Due To CFO's Surprise Exit


1/28/2014 8:07:06 AM

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Merck KGaA (MRK) shares fell the most in more than four years in response to the unexpected departure of Chief Financial Officer Matthias Zachert, who helped turn the company around in the past two years. Merck slid as much as 12 percent, the biggest intraday decline since July 24, 2009. Societe Generale SA and Morgan Stanley lowered their recommendations on on the shares after Merck said the finance chief would leave to head German specialty chemicals company Lanxess AG (LXS), his former employer.

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