Merck has announced that its chair and CEO Kenneth Frazier plans to retire from his position, effective June 30. Frazier, who will continue to serve as executive chair on the company board of directors, will be replaced by Robert Davis (current executive vice president of global services and CFO).
Frazier has been with Merck since 1992, when he joined the company’s public affairs division as general counsel, then rose through the ranks to become chair and CEO in 2011. Les Brun, Merck’s lead independent director, said, “Ken’s vision and courage to make difficult changes within Merck, while steadfastly investing in research and development, have positioned Merck well for sustainable future growth. Under Ken’s leadership, Merck has delivered many innovative lifesaving medicines and vaccines, including Keytruda, Gardasil 9, and Bridion; and also focused on other key growth drivers, such as Lynparza, Lenvima, and animal health to create long-term value for its shareholders and other stakeholders.”