Merck says Kenneth Frazier will step down as CEO on June 30

Merck’s open CEO Ken Frazier is retiring from the company on June 30 after nearly 30 years with the pharmacist, Merck announced on Thursday.

Frazier, 66, will be replaced by Robert Davis, chief financial officer, and will continue to serve on Merck’s board of directors as executive chairman “for a transitional period to be determined by the board.” the company said in a statement. Frazier, one of the few leaders of black companies in the United States, has served as Merck’s CEO since January 2011.

“It’s been a privilege to serve as Merck’s CEO for the past decade and to work with the industry’s most dedicated and talented employees and management team,” Frazier said Thursday. “As CEO, I look forward to working with Rob and our board to help Merck reach even higher levels of success.”

A former lawyer, Frazier led a riot among executives, being the first to resign from President Donald Trump’s U.S. fabrication board shortly after Trump’s comments in support of white, “right-wing” and neo-Nazi white nationalist groups. a violent protest in Charlottesville, Virginia. in 2017.

Frazier is one of the most prominent black CEOs in the country. Before joining Merck, Frazier helped release a black death row inmate who was falsely accused of murder.

Davis will become president of Merck on April 1, the company said. He joined the New Jersey pharmaceutical company as senior financial manager in 2014.

Two years later, Davis’ service was expanded to include “the company’s global support functions, which include corporate business development, investor relations, information technology, public procurement, real estate operations and corporate strategy.”

“Rob has been instrumental in helping Merck take the right steps to adapt to the changing health environment, while remaining committed to investing in the scientific innovation we expect to drive our future growth.

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