New Jersey-based pharmaceutical company Merck on February 4 said its outspoken CEO Ken Frazier will retire on June 30. Frazier has been with the company for almost 30 years.
Frazier will be replaced by the company’s CFO Robert Davis, who will become Merck’s president effective April 1. Davis joined the firm as its top financial officer in 2014.
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However, Frazier will continue to serve as executive chairman for Merck’s board of directors 'for a transition period to be determined by the board', CNBC quoted a Merck statement. He is one of the few Black corporate leaders in the United States, who has served as Merck chief since January 2011.
"It has been a privilege to serve as Merck’s CEO for the past decade and to work with the most dedicated and talented employees and management team in the industry. As executive chairman, I look forward to collaborating with Rob and our board of directors to help Merck achieve even higher levels of success," Frazier said in the statement.
Frazier has been an outspoken critic of former United States president Donald Trump. He was also among the first to resign from the American Manufacturing Council after Trump's supportive comments about white nationalists in 2017. At that time, Trump had also supported 'alt-Right' and neo-Nazi groups.
Prior to joining Merck, Frazier, a former attorney, helped free a black death row inmate who was falsely accused of murder.
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