Judy Lewent

Last updated
Judy Lewent
Judylewent2012.jpg
Judy Lewent in 2012
Alma mater Goucher College, MIT Sloan School of Management
OccupationBusiness executive

Judith Carol Lewent is a business executive who served as chief financial officer of Merck & Co. from 1990 until her retirement from the company in 2007. [1] Since her retirement from Merck, she has continued to serve on multiple corporate boards, including the boards of GlaxoSmithKline, Thermo Fisher Scientific and Motorola Solutions. She also served on the board of Purdue Pharma until her departure from the company in 2014. [2]

Contents

Early life

Lewent received her high school diploma at Hunter College High School, her B.S. in Economics from Goucher College, and her S.M. in 1972 from the MIT Sloan School of Management with thesis titled The French Open-end Investment Companies (1964 to 1971): an Application of the Capital Asset Pricing Model. [3]

Career

Joining Merck in 1980, Lewent developed a new planning model in 1983 based on the Monte Carlo method, as more traditional financial valuation methods seemed not to take account of the long-term nature of pharmaceutical risks. In 1990, on her appointment as CFO, Lewent took on responsibilities for Merck's overall financial and strategic development, and for licensing matters.

Since then Lewent has also been responsible for Merck's collaboration with Johnson & Johnson in a consumer pharmaceuticals joint venture, for the setting up of the animal health company Merial (a joint venture with the French pharmaceutical company Sanofi-Aventis), and for Merck's ongoing relationships with AstraZeneca and DuPont. She chaired the governing boards of several of these joint ventures.

Lewent is a member of the board of directors of Dell Inc., Motorola and the National Bureau of Economic Research, and a trustee of the Rockefeller Family Fund; she is also a life member of the MIT Corporation, and a member of the American Academy of Arts and Sciences.

Between 26 July and 07 Aug 2007, Lewent sold 200,000 shares of Merck stock for about $10,262,000, according to Securities and Exchange Commission filings.

In February 2007, Merck has announced she will retire and leave the company in July. [4]

Related Research Articles

<span class="mw-page-title-main">Valuation (finance)</span> Process of estimating what something is worth, used in the finance industry

In finance, valuation is the process of determining the value of an asset. Valuation is a subjective exercise as the process of valuation itself can also affect the value of the asset in question. Generally, there are three ways of performing a valuation, namely discounted cashflow valuation, relative valuation, and contingent claim valuation. In a business context, it is often the hypothetical price that a third party would pay for a given asset. Valuations can be done on assets or on liabilities. Valuations are needed for many reasons such as investment analysis, capital budgeting, merger and acquisition transactions, financial reporting, taxable events to determine the proper tax liability.

<span class="mw-page-title-main">MFS Investment Management</span> American-based global investment manager

MFS Investment Management (MFS) is an American-based global investment manager, formerly known as Massachusetts Financial Services.

<span class="mw-page-title-main">Autoliv</span> Swedish automotive safety supplier

Autoliv, Inc. is a Sweden automotive safety supplier with sales to all leading car manufacturers worldwide. Together with its joint ventures, Autoliv has over 68,000 employees in 27 countries, of whom 5700 are involved in research, development and engineering. In addition, the company has 14 technical centers around the world, including 20 test tracks, more than any other automotive safety supplier.

<span class="mw-page-title-main">American International Group</span> American multinational finance and insurance corporation

American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. As of January 1, 2019, AIG companies employed 49,600 people. The company operates through three core businesses: General Insurance, Life & Retirement, and a standalone technology-enabled subsidiary. General Insurance includes Commercial, Personal Insurance, U.S. and International field operations. Life & Retirement includes Group Retirement, Individual Retirement, Life, and Institutional Markets. AIG is a sponsor of the AIG Women's Open golf tournament.

A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to access a new market, particularly Emerging market; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities.

The Vanguard Group, Inc. is an American registered investment advisor based in Malvern, Pennsylvania, with about $8 trillion in global assets under management, as of January 13, 2021. It is the largest provider of mutual funds and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock's iShares. In addition to mutual funds and ETFs, Vanguard offers brokerage services, educational account services, financial planning, asset management, and trust services. Several mutual funds managed by Vanguard are ranked at the top of the list of US mutual funds by assets under management. Along with BlackRock and State Street, Vanguard is considered to be one of the Big Three index fund managers that play a dominant role in corporate America.

Housing Development Finance Corporation Limited (HDFC) is an Indian private development finance institution based in Mumbai. It is a major housing finance provider in India. It also has a presence in banking, life and general insurance, asset management, venture capital, realty, education, deposits and education loans.

Robert Charles Pozen known as "Bob" is an American financial executive with a strong interest in public policy. Pozen currently teaches executives about how to be more productive and serves as an executive coach and mentor, www.bobpozen.com. He is the former chairman of MFS Investment Management, the oldest mutual fund company in the United States. Previously, Pozen was the President of Fidelity Investments. As of 2020 he is a senior lecturer at MIT Sloan School of Management, and a senior fellow at the Brookings Institution.

<span class="mw-page-title-main">Invesco</span> Global investment management company

Invesco Ltd. is an American independent investment management company that is headquartered in Atlanta, Georgia, with additional branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York stock exchange. Invesco operates under the Invesco, Trimark, Invesco Perpetual, WL Ross & Co and Powershares brand names.

Hacı Ömer Sabancı Holding A.Ş., commonly abbreviated as Sabancı Holding, is an industrial and financial conglomerate with headquarters in Istanbul, Turkey. The company's primary activities are in financial services, energy, cement, retail and industrial sectors. The founding Sabancı family continues to hold a majority stake. Sabanci Holding was first listed on the Istanbul Stock Exchange (BIST) in 1997.

<span class="mw-page-title-main">T. Rowe Price</span> American publicly owned investment firm

T. Rowe Price Group, Inc. is an American publicly owned global investment management firm that offers funds, subadvisory services, separate account management, and retirement plans and services for individuals, institutions, and financial intermediaries. The firm has assets under management of more than $1.6 trillion and annual revenues of $6.2 billion as of 2020, placing it 447 on the Fortune 500 list of the largest U.S. companies. Headquartered at 100 East Pratt Street in Baltimore, Maryland, it has 5,000 employees in Baltimore and 16 international offices serving clients in 47 countries.

Gary Lewis Crittenden is an American financial manager. He is currently an executive director of HGGC, where he also previously served as CEO and chairman. He is also the former chairman of Citi Holdings. He has served as chairman of the boards of Citadel, Power Holdings, and iQor; as lead independent director of Pluralsight; and has served on the boards of Extra Space Storage, Staples Inc., Ryerson, Inc., TJX Companies, and Utah Capital Investment Corp. From 2000 to 2007, Crittenden was Executive Vice President and Chief Financial Officer (CFO) of American Express, and from March 2007 to March 2009, he was the chief financial officer of Citigroup.

Sanlam is a South African financial services group headquartered in Bellville, Western Cape, South Africa. Sanlam is the largest insurance company in Africa. It is listed on the Johannesburg Stock Exchange, the Namibian Stock Exchange and the A2X. Established in 1918 as a life insurance company, Sanlam Group has developed into a diversified financial services business. Its five business clusters comprise Sanlam Personal Finance, Sanlam Emerging Markets, Sanlam Investments, Sanlam Corporate and Santam.

CIBC Mellon was founded in 1996 as a joint venture between the Canadian Imperial Bank of Commerce and the Mellon Financial Corporation to offer asset servicing to institutional investors. While commonly known as CIBC Mellon, the company comprises two sister companies, CIBC Mellon Trust Company and CIBC Mellon Global Securities Services Company. Based in Toronto, Ontario CIBC Mellon offers asset servicing to corporate and institutional clients.

Centerview Partners is an American independent investment banking firm. Centerview operates primarily as an investment banking advisory firm. Centerview has 60 partners and 400 professionals with expertise across a wide range of industries, geographies, transaction structures and sizes.

Geojit Financial Services Ltd. is an investment services company in India headquartered in Kochi, Kerala. It operates a network of offices across India and the Middle East. Geojit was the first company in India to launch online-trading facilities, develop franchise models of sub-broking, form joint ventures in West Asia and the first to begin commodity futures trading in pepper, cardamom, gold and silver in Bharat.

<span class="mw-page-title-main">Piramal Group</span> Indian conglomerate

The Piramal Group is an Indian multinational conglomerate that has presence across various sectors such as healthcare, life sciences, drug discovery, financial services, alternative investment and real estate.

Buck Buckley is the Co-Founder and CIO of Semcap and CEO of Actua Corporation, formerly ICG Corporation, a company that he co-founded along with Ken Fox. In 2017, the company announced the sale of its majority-owned assets and that it would return 3x capital to shareholders.

Risper Alaro is an accountant, businesswoman and corporate executive in Kenya. In March 2022, she was appointed as the group finance director at Centum Investments, a publicly-traded private equity company in Kenya. The shares of stock of Centum Investments trade on both the Nairobi Stock Exchange and on the Uganda Securities Exchange. Alaro is expected to take up her new appointment on 15 March 2022.

<span class="mw-page-title-main">Renu Sud Karnad</span>

Renu Sud Karnad is an Indian businesswoman and the managing director of India's largest Mortgage Financier Housing Development Finance Corp. Ltd. Additionally she also holds seven other positions for companies like HDFC Property Ventures Ltd., HDFC Education & Development Services Pvt Ltd. and Non-Executive Chairman at GlaxoSmithKline Pharmaceuticals Ltd. She is also the Vice Chairman-Governing Council at Indraprastha Cancer Society and Research Centre and part of the board of 17 other companies.

References

  1. Pierson, Ransdell (2007-02-20). "UPDATE 1-Merck's Lewent to retire after 17 years as CFO". Reuters. Retrieved 2021-01-02.
  2. "GSK director sued over US opioid crisis". BBC News. 3 July 2018.
  3. "The French open-end investment companies (1964 to 1971): an application of the capital asset pricing model". MIT Library Catalogue. Retrieved 16 Dec 2012.
  4. writer, By Aaron Smith, CNNMoney.com staff. "Merck CFO Lewent retires - Feb. 20, 2007". money.cnn.com. Retrieved 2017-09-15.{{cite web}}: |first= has generic name (help)