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Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced that Kenneth C. Frazier, chairman and chief executive officer, will retire as CEO, effective June 30, 2021. Mr. Frazier will continue to serve on Merck’s board of directors as executive chairman, for a transition period to be determined by the board. The Merck board of directors has unanimously elected Robert M. Davis, Merck’s current executive vice president, global services and chief financial officer, as chief executive officer, as well as a member of the board, effective July 1, 2021. Mr. Davis will become president of Merck, effective April 1, 2021, at which time the company’s operating divisions Human Health, Animal Health, Manufacturing, and Merck Research Laboratories will begin reporting to him.
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.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Kenneth C. Frazier to Retire as Merck CEO; Board Elects Robert M. Davis as Successor; Frazier to Continue as Executive Chairman
February 4, 2021 GMT
KENILWORTH, N.J. (BUSINESS WIRE) Feb 4, 2021
Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced that Kenneth C. Frazier, chairman and chief executive officer, will retire as CEO, effective June 30, 2021. Mr. Frazier will continue to serve on Merck’s board of directors as executive chairman, for a transition period to be determined by the board. The Merck board of directors has unanimously elected Robert M. Davis, Merck’s current executive vice president, global services and chief financial officer, as chief executive officer, as well as a member of the board, effective July 1, 2021. Mr. Davis will become president of Merck, effective April 1, 2021, at which time the company’s operating divisions Huma
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Kristin Shapiro is a Senior Fellow with Independent Women’s Forum. Kristin received her bachelor of arts degree from New York University, magna cum laude, in 2004, and her juris doctorate from Northwestern University School of Law, magna cum laude, in 2009, where she graduated second in her class and served on the editorial board of the Northwestern University Law Review. After law school, Kristin clerked for Chief Judge Alex Kozinski on the United States Court of Appeals for the Ninth Circuit. Following her clerkship, Kristin practiced law as an associate at Williams & Connolly LLP, a D.C. law firm, for six years, where she litigated numerous cases in the United States Supreme Court and the federal courts of appeal and district courts. Kristin then served as Assistant General Counsel in the Office of General Counsel of the U.S. House of Representatives for three years, and is now an attorney for the federal government.