Belén Garijo, who steered Merck KGaA through the COVID-19 pandemic, will step down as CEO of the German healthcare and electronics conglomerate.
Garijo will end her five-year tenure as planned by the end of April 2026, the German Merck said Thursday. Kai Beckmann, currently the firm's CEO of electronics, will succeed her as the new group CEO on May 1, 2026.
The CEO transition comes at a turbulent time for Merck KGaA as the company is in the unique position of having to navigate rising geopolitical tensions between the U.S. and China in two critical high-tech industries: pharmaceuticals and semiconductors. The two sectors are the two pillars of Merck KGaA’s business and are both priorities for the Trump administration under the president's “America First” strategy, which is focused on national security and domestic supply chain independence.
In April, the U.S. Department of Commerce launched separate Section 232 investigations into the national security implications of pharmaceutical and semiconductor imports. Results from the probes could inform the administration’s decisions on tariffs. President Donald Trump recently said he plans to introduce 100% tariffs on semiconductor imports and has threatened levies as high as 250% on foreign-made drug products.
Because of uncertainties around tariffs, Merck KGaA in May lowered its 2025 sales forecast for its life science division, which provides R&D and CDMO services and materials for the biopharma industry. By comparison, the firm’s semiconductor materials business is thriving driven by demand for artificial intelligence capabilities.
Garijo rose to the group CEO job from leading the company’s pharmaceutical department at a challenging time in May 2021, when the whole world was grappling with the COVID pandemic. She was the first woman to lead one of the 30 largest companies on the Frankfurt stock exchange and also the first female CEO in the company’s 350-year-plus history.
She was credited for driving the German Merck’s presence in China, where the company is now adopting a China-for-China supply chain strategy to serve the local market amid geopolitical uncertainties.
Meanwhile, Merck KGaA’s pharma division has had some ups and downs lately. The company just completed a $3.9 billion acquisition of SpringWorks Therapeutics in a move that bolsters its presence in the U.S. and in oncology. On the negative side, Merck suffered from the epic failure of its BTK inhibitor evobrutinib.
Earlier this year, Garijo also put new leaders in Merck’s life science and healthcare units.
Now, Garijo will leave Merck after 15 years with the firm, but she “will remain actively involved in the healthcare ecosystem,” the company said.
“I would like to thank Belén Garijo for expertly steering our company safely through tumultuous years of transformative change and returning the company to profitable growth,” Johannes Baillou, chairman of the executive board of E. Merck KG, said in a Sept. 25 statement. “She has shaped the company’s evolution into a globally leading science and technology company while nurturing a High Impact Culture and making our teams future ready.”
Merck family, through E. Merck KG, controls about 70% of Merck KGaA’s shares.
“In Kai Beckmann we have the perfect homegrown leader […] with extensive understanding of our global businesses as well as patient and customer needs,” Baillou continued. “Beckmann’s proven transformational expertise will be fundamental to deliver the next chapter of our company’s growth.”
Beckmann has served on Merck’s executive board since 2011, having previously also acted as chief administration officer. After assuming leadership for the performance materials business in 2017, Beckmann put the franchise on a multiyear transformation with increased investments in materials for the semiconductor industry while shifting away from less strategic areas such as effect pigments. The department was renamed to electronics in 2021.
Editor's Corner: The story was the correct title of Johannes Baillou.