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Long-time Merck CEO Ken Frazier to retire
PTI
Washington |
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Among the four Black CEOs to head a Fortune 500 company in the US, Frazier took on Trump for his tacit support of white supremacists
Long-time Merck executive Ken Frazier, whose leadership helped bring the drugmaker one of the most lucrative medicines in history and who is one of the few remaining Black CEOs of a major corporation, is retiring.
Frazier, Merck’s CEO since early 2011 and an advocate for minority advancement who took on then-President Trump’s tacit support of white supremacists, will retire in July.
Frazier, 66, will be replaced by Rob Davis, the chief financial officer, the company said on Thursday as it announced quarterly financial results. Frazier will become executive chairman of the board during a transition period. The change comes just months after Dr. Dean Li took over as head of Merck’s research and development.