LabCorp selects its new CEO; Pfizer names ex-Genentech vet as new head of oncology R&D

? Longtime Merck executive?Adam Schechter will be taking over as CEO and president of LabCorp with the retirement of David King on October 31? when he will become executive chairman of the board of directors. The company says that ?the board expects to choose one of its members to be lead independent director at a later date.?

Schechter has been on LabCorp?s board since April 1, 2013, serving as the lead independent director since January of this year. During his long-time stint at Merck, Schechter helped lead the integration of Merck and Schering-Plough and held executive roles in the company, including president of global human health and president of Merck?s global pharmaceutical business.

King has served as CEO for 13 years, starting in January 1, 2007.