Merck: Kenneth Frazier
Merck’s CEO Kenneth Frazier will continue with the company despite his upcoming 65th birthday. The board of directors at Merck announced the company has changed its mandatory retirement age of 65.
Leslie Brun, speaking on behalf of Merck’s board of directors stated, “CEO succession has been our top priority, and removing the mandatory retirement policy enables the board to make the best decision concerning the timing of that transition.”
Frazier joined Merck as its CEO and chairman in 2011 and since then the company states that the company stock has roughly doubled. He originally joined Merck as general counsel in 1992 but, after directing the company’s defense of its anti-inflammatory drug, Vioxx, he climbed through the ranks.
“Ken’s unwavering dedication over the years to Merck’s mission of delivering innovative medicines and vaccines has helped drive value for shareholders and patients. We look forward to Ken’s continuing leadership and the impact it will have,” Brun said.
In 2006, Frazier was promoted to executive vice president while still remaining general counsel, then in 2010 he was named President of Merck until he became CEO in 2011.