Fred Hassan, chairman of the board and chief executive officer (CEO) of Schering-Plough Corporation, will receive the New Jersey Institute of Technology (NJIT) President’s Medal for Lifetime Achievement.
Hassan will be honored during the university’s annual black-tie benefit dinner - called Celebration - scheduled for Nov. 4 at the Pleasantdale Chateau, West Orange. The proceeds from the dinner will endow scholarships for students enrolled in the Albert Dorman Honors College at NJIT. Many Dorman students are the first in their families to attend college and most rely upon merit and need-based scholarships.
The college, founded in 1995, enrolls more than 500 students who are offered special classes, seminars and colloquia by distinguished professors. Proceeds from the dinner will endow scholarships for 100 more Dorman students. Dorman’s mission is to transform its students into leaders in their respective fields.
“Fred Hassan is an example of a leader whose lifetime achievements have been extraordinary,” said Jacquelynn Rhodes, associate vice president for development. “He’s an individual our students can look up to and emulate.”
Hassan was named chairman and CEO of Schering-Plough, the global science-based healthcare company headquartered in Kenilworth, in April 2003. Prior to joining Schering-Plough, Hassan was chairman and chief executive officer of Pharmacia Corporation. He joined the former Pharmacia & Upjohn in May 1997 as chief executive officer and was elected to the board of directors. In February 2001, he was named chairman of the board of Pharmacia, the company created by the merger of the former Monsanto and Pharmacia & Upjohn companies.
Prior to that, Hassan was executive vice president of Wyeth, formerly known as American Home Products, with responsibility for its pharmaceutical and medical products business. He was elected to Wyeth’s Board of Directors in 1995. Earlier in his career, Hassan worked for 17 years with Sandoz Pharmaceuticals (now Novartis), heading its U.S. pharmaceuticals business.
He received a bachelor’s degree in chemical engineering from the Imperial College of Science and Technology at the University of London, and an M.B.A. from Harvard Business School. He is the past chairman of the board of directors of the Pharmaceutical Research and Manufacturers of America (PhRMA) and is the immediate past chairman of the HealthCare Institute of New Jersey. In addition, he serves on the board of directors of Avon Products, Inc.