Merck's Frazier to Retire as CEO at End of July

By Colin Kellaher

Merck & Co. Thursday said Kenneth Frazier, its chairman and chief executive, will retire as CEO at the end of June.

The Kenilworth, N.J., drug maker said Robert Davis, currently executive vice president of global services and chief financial officer, will succeed Mr. Frazier as CEO, effective July 1.

Merck said Mr. Davis, who joined as chief financial officer in 2014, will become president on April 1, at which time the company's four operating divisions will begin reporting to him.

Merck said Mr. Frazier, who joined the company in 1992, will remain as executive chairman for a transition period to be determined by the board. Mr. Frazier has been Merck's CEO since January 2011 and chairman since December 2011.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

February 04, 2021 07:16 ET (12:16 GMT)

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