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One of the few top U S Black CEOs, Merck s Ken Frazier to retire - Netscape Money & Business

One of the few top U S Black CEOs, Merck s Ken Frazier to retire - Netscape Money & Business
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Merck CEO Kenneth Frazier to retire at the end of June - Netscape Money & Business

Merck CEO Kenneth Frazier to retire at the end of June By Manas Mishra and Michael Erman Reuters NEW YORK (Reuters) - Merck & Co Inc said on Thursday Kenneth Frazier, one of only a handful of Black executives leading major U.S. companies, will step down as chief executive officer at the end of June and be replaced by Chief Financial Officer Robert Davis. Frazier, 66, will not be handing over the reins completely, at least for now. He will remain with the drugmaker as executive chairman for a transition period. He was set to retire in 2019, but the company scrapped a policy requiring its CEO to retire at the age of 65.

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Merck taps Davis for CEO role as Frazier sets plan to retire

Merck taps Davis for CEO role as Frazier sets plan to retire Emma Court and Riley Griffin, Bloomberg News Merck & Co. said Kenneth Frazier plans to retire as chief executive officer after a decade at the helm of the drug giant. Frazier, one of just four Black CEOs in the Fortune 500, will be succeeded by Robert M. Davis, Merckâs executive vice president for global services and chief financial officer. Davis was unanimously selected by Merckâs board for the post and will also be Merckâs new president as of April 1. Frazier, who will continue as executive chairman, will step down as chief executive on June 30, the company said in a statement.

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US drugmaker Merck s Kenneth Frazier to step down as CEO in June-end

Merck & Co Inc said on Thursday Kenneth Frazier, one of only a handful of Black executives leading major US companies, would step down as chief executive officer at the end of June to be replaced by Chief Financial Officer Robert Davis. Frazier, 66, will remain with the drugmaker as executive chairman for a transition period to be determined by the board. Davis has been CFO of Merck since 2014 and has been in charge of the company s business development, real estate and other corporate strategic functions since 2016. A career healthcare executive, he was the president of Baxter International Inc s medical products business before joining Merck and also spent 14 years at Eli Lilly and Co.

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Merck CEO Kenneth Frazier to retire at the end of June

5 Min Read (Reuters) - Merck & Co Inc said on Thursday Ken Frazier, one of only a handful of Black executives leading major U.S. companies, will step down as chief executive officer at the end of June and be replaced by Chief Financial Officer Robert Davis. Frazier, 66, will remain with the drugmaker as executive chairman for a transition period. He had been due to retire in 2019, but the company scrapped a policy requiring its CEO to retire at age 65. Frazier was one of only five Black CEOs on last year’s Fortune 500 list of America’s largest companies, released in June 2020.

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