Judy Lewent
Encyclopedia
Judith C. Lewent was, until July 2007, the Executive Vice President
and Chief Financial Officer
(CFO) of Merck
, one of the largest pharmaceutical companies
in the world.
, her B.S.
in Economics
from Goucher College
, and her S.M.
in 1972 from the MIT Sloan School of Management
.
, 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. This appointment made her the first woman to serve as the CFO of a major corporation.
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.
Vice president
A vice president is an officer in government or business who is below a president in rank. The name comes from the Latin vice meaning 'in place of'. In some countries, the vice president is called the deputy president...
and Chief Financial Officer
Chief financial officer
The chief financial officer or Chief financial and operating officer is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management...
(CFO) of Merck
Merck & Co.
Merck & Co., Inc. , also known as Merck Sharp & Dohme or MSD outside the United States and Canada, is one of the largest pharmaceutical companies in the world. The Merck headquarters is located in Whitehouse Station, New Jersey, an unincorporated area in Readington Township...
, one of the largest pharmaceutical companies
Pharmaceutical company
The pharmaceutical industry develops, produces, and markets drugs licensed for use as medications. Pharmaceutical companies are allowed to deal in generic and/or brand medications and medical devices...
in the world.
Early life
Lewent received her high school diploma at Hunter College High SchoolHunter College High School
Hunter College High School is a New York City secondary school for intellectually gifted students located on Manhattan's Upper East Side. It is administered by Hunter College, a senior college of the City University of New York. Although it is not operated by the New York City Department of...
, her B.S.
Bachelor of Science
A Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...
in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
from Goucher College
Goucher College
Goucher College is a private, co-educational, liberal arts college located in the northern Baltimore suburb of Towson in unincorporated Baltimore County, Maryland, on a 287 acre campus. The school has approximately 1,475 undergraduate students studying in 31 majors and six interdisciplinary...
, and her S.M.
Master's degree
A master's is an academic degree granted to individuals who have undergone study demonstrating a mastery or high-order overview of a specific field of study or area of professional practice...
in 1972 from the MIT Sloan School of Management
MIT Sloan School of Management
The MIT Sloan School of Management is the business school of the Massachusetts Institute of Technology, in Cambridge, Massachusetts....
.
Career
Joining Merck in 1980, Lewent pioneered a new planning model in 1983 based on the Monte Carlo methodMonte Carlo method
Monte Carlo methods are a class of computational algorithms that rely on repeated random sampling to compute their results. Monte Carlo methods are often used in computer simulations of physical and mathematical systems...
, 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. This appointment made her the first woman to serve as the CFO of a major corporation.
Since then Lewent has also been responsible for Merck's collaboration with Johnson & Johnson
Johnson & Johnson
Johnson & Johnson is an American multinational pharmaceutical, medical devices and consumer packaged goods manufacturer founded in 1886. Its common stock is a component of the Dow Jones Industrial Average and the company is listed among the Fortune 500....
in a consumer pharmaceuticals joint venture, for the setting up of the animal health company Merial
Merial
Merial is a multinational animal health company. It was formed as a joint venture between Merck & Co. and Sanofi-Aventis in 1997. Merial is now the animal health subsidiary of Sanofi-Aventis. Merial is a company leader in innovation, and provides an ample range with products to improve the...
(a joint venture with the French pharmaceutical company Sanofi-Aventis
Sanofi-Aventis
Sanofi S.A. is a multinational pharmaceutical company headquartered in Paris, France, the world's fourth-largest by prescription sales. Sanofi engages in the research and development, manufacturing and marketing of pharmaceutical products for sale principally in the prescription market, but the...
), and for Merck's ongoing relationships with AstraZeneca
AstraZeneca
AstraZeneca plc is a global pharmaceutical and biologics company headquartered in London, United Kingdom. It is the world's seventh-largest pharmaceutical company measured by revenues and has operations in over 100 countries...
and DuPont
DuPont
E. I. du Pont de Nemours and Company , commonly referred to as DuPont, is an American chemical company that was founded in July 1802 as a gunpowder mill by Eleuthère Irénée du Pont. DuPont was the world's third largest chemical company based on market capitalization and ninth based on revenue in 2009...
. She chaired the governing boards of several of these joint ventures.
Lewent is a member of the Board of Directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of Dell Inc.
Dell
Dell, Inc. is an American multinational information technology corporation based in 1 Dell Way, Round Rock, Texas, United States, that develops, sells and supports computers and related products and services. Bearing the name of its founder, Michael Dell, the company is one of the largest...
, Motorola
Motorola
Motorola, Inc. was an American multinational telecommunications company based in Schaumburg, Illinois, which was eventually divided into two independent public companies, Motorola Mobility and Motorola Solutions on January 4, 2011, after losing $4.3 billion from 2007 to 2009...
and the National Bureau of Economic Research
National Bureau of Economic Research
The National Bureau of Economic Research is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." The NBER is well known for providing start and end...
, and a trustee of the Rockefeller Family Fund
Rockefeller Brothers Fund
The Rockefeller Brothers Fund , , is an international philanthropic organisation created and run by members of the Rockefeller family. It was set up in New York City in 1940 as the primary philanthropic vehicle of the five famous Rockefeller brothers: John D...
; she is also a life member of the MIT Corporation, and a member of the American Academy of Arts and Sciences
American Academy of Arts and Sciences
The American Academy of Arts and Sciences is an independent policy research center that conducts multidisciplinary studies of complex and emerging problems. The Academy’s elected members are leaders in the academic disciplines, the arts, business, and public affairs.James Bowdoin, John Adams, and...
.
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
United States Securities and Exchange Commission
The U.S. Securities and Exchange Commission is a federal agency which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets in the United States...
filings.