Merck promotes Kenneth Frazier to CEO, succeeding Richard Clark
This article was originally published in Scrip
Executive Summary
In a move that was widely expected, Merck has appointed Kenneth Frazier, its president, to the additional role of CEO effective 1 January 2011, succeeding Richard Clark.
Merck's in-coming CEO, Kenneth Frazier
Mr Clark, who has served as Merck's CEO since 2005, will continue as chairman of the board. He will turn 65 next year, the mandatory company CEO retirement age.
Mr Frazier's promotion, which also includes a position on the board, had been expected after the company named him president in April this year.
Mr Frazier has since focused on improving the effectiveness of the company's three largest divisions – Global Human Health (pharmaceutical and vaccine sales and marketing), Merck Research Laboratories (R&D), and Merck Manufacturing Division (manufacturing and supply) – and their post-merger integration.
Mr Frazier joined Merck in 1992 as vice president, general counsel. Prior to being appointed president, Mr Frazier served as executive vice president and president, Global Human Health, for three years.