E. Merck KG has announced the establishment of a new company: the Merck Family Foundation. Through this firm, the Merck family of owners will not only combine many of its individual philanthropic activities under one roof, but also considerably expand its charitable work.
"We know how much we owe to the communities in which our global sites operate. With the Merck Family Foundation, the members of the family wish to expand their efforts beyond doing good and give back to the community. We want to achieve a sustainable impact locally," is how Frank Stangenberg-Haverkamp, Chairman of the Family Board of E. Merck KG, described the social commitment of the roughly 150 partners.
The Merck Family Foundation will be funded exclusively by the Merck family. Therefore the firm does not have its own capital and is thus not a foundation in the classic sense. "We want to use our financial resources to promote the well-being of society in a lasting and visible way. With banks paying no interest, using interest income on assets is obviously not a financing option. In order to ‘do good’, philanthropy must also pursue new avenues," explained Stangenberg-Haverkamp.
The Merck Family Foundation will exclusively pursue charitable and non-profit objectives such as promoting public healthcare and education, furthering citizens' initiatives and providing emergency aid. For this purpose the company will also support research projects, thus becoming involved in international development cooperation. "The Merck Family Foundation primarily wants to invest its money in future projects and not in building up administrative capacities. Therefore, we wish to also get involved in projects that rely on the civic and voluntary commitment of Merck employees," said Walter Huber, who has been appointed Managing Director of the Merck Family Foundation.
The Merck Family Foundation will operate as a non-profit private limited company (gemeinnützige GmbH). The Family Board of E. Merck KG has made a sufficient budget available for the short fiscal year 2016. In addition, it has appointed a Board of Trustees comprising seven members of the 11th and 12th generations of the Merck family. The task of the Board of Trustees is to advise and monitor the management and to select the projects being promoted. Frank Stangenberg-Haverkamp has been elected Chairman of the Board of Trustees.
Walter Huber (60) joined Merck in 1991 and was Head of Group Communications from 1998 until his retirement in March 2016. In this position, for many years he was also responsible for the company's global Corporate Responsibility projects.
About Merck
Merck is a leading science and technology company in healthcare, life science and performance materials. Around 50,000 employees work to further develop technologies that improve and enhance life - from biopharmaceutical therapies to treat cancer or multiple sclerosis, cutting-edge systems for scientific research and production, to liquid crystals for smartphones and LCD televisions. In 2015, Merck generated sales of € 12.85 billion in 66 countries.
Founded in 1668, Merck is the world's oldest pharmaceutical and chemical company. The founding family remains the majority owner of the publicly listed corporate group. Merck, Darmstadt, Germany holds the global rights to the Merck name and brand. The only exceptions are the United States and Canada, where the company operates as EMD Serono, MilliporeSigma and EMD Performance Materials.