Carrie Cox has been appointed as executive vice president and president, Global Pharmaceutical Business at Schering-Plough Corporation. She begins her assignment on May 15. Cox's appointment is a major element in the early action steps announced today by Fred Hassan, Schering-Plough's new chairman and chief executive officer, to revitalize the company, which is suffering from declining sales and earnings, and also legal and regulatory issues. Cox will report to Hassan.

Cox's appointment consolidates Schering-Plough's prescription pharmaceutical business from several autonomous units into a unified global operation. Reporting to Cox will be the current heads of U.S. and international pharmaceuticals, Rich Zahn and Tom Lauda, respectively.

Cox served previously as the executive vice president and president of the Global Prescription Business at Pharmacia Corporation, prior to its merger with Pfizer last month.

Said Hassan: "I am very pleased that we could attract one of the top executives in our industry to Schering-Plough. Carrie will play a key role as we revitalize the company and build long-term growth."

A registered pharmacist, Cox has more than 20 years of experience in the pharmaceutical industry. Cox joined Pharmacia's predecessor company, Pharmacia & Upjohn, in 1997 as a member of top management and was a strong contributor to the company's dramatic turnaround. Previously, Cox served as vice president of Women's Health Care at Wyeth (formerly American Home Products), where she worked for seven years. Prior to that assignment Cox held a variety of positions in market research, sales and product management during a 10-year career with Sandoz Pharmaceuticals.

The Healthcare Businesswomen's Association named Cox Healthcare Businesswoman of the Year in 2001, and she was also named to Fortune Magazine's list of the 50 most powerful women in business.