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Merck says Kenneth Frazier to retire as CEO effective June 30

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Ken Frazier, Chairman and CEO, Merck & Co., speaks during a meeting of the Economic Club of New York, October 3, 2018.

Brendan McDermid | Reuters

The outspoken CEO of Merck, Ken Frazier, is retiring from the company effective June 30 after almost 30 years at the drugmaker, Merck announced on Thursday.

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

“It has been a privilege to serve as Merck’s…



Source cnbc.com

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