Merck Names President as New CEO

Merck & Co., Inc. (MRK) announced this afternoon that the co.’s President Kenneth Frazier will succeed Richard Clark as the U.S. drugmaker’s chief executive officer.

“Ken is a proven executive who has played a key role in shaping Merck’s business strategy”, said in a statement William Harrison, Merck’s lead director. “With his understanding of the global health-care environment, the board is confident in Ken’s ability to take the helm at Merck and guide the continued implementation of our long-term strategy.”

Dick Clark, who was appointed CEO in 2005, will reach Merck’s mandatory retirement age next year. He will continue as chairman of the board.

Merck shares lost 4 cents to $34.64 at 1:38 p.m. ET in New York Stock Exchange composite trading.

Create Content With AI

Risk Our Money Not Yours | Get 50% Off Any Account

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


*

This site uses Akismet to reduce spam. Learn how your comment data is processed.