Asset Management/Maintenance

Merck begins hunt for new CEO

Jun 20, 2019

Merck and Co. is scouting for a replacement for its CEO, Kenneth Frazier. 

Sources close to the matter told Bloomberg that despite recently overturning a long-standing company rule stipulating that CEOs must retire at the age of 65, Frazier is laying the groundwork for his departure. Merck is reportedly starting its search by considering a pool of candidates from inside the company.

Frazier took the chief role at Merck in 2011 and has since become associated with the company’s success developing the breakthrough immuno-therapy, Keytruda, into a blockbuster franchise. Keytruda generated $7.17 billion in sales in 2018 alone. 

Sources told Bloomberg that Frazier now hopes to build a leadership team at Merck with a strong scientific background that will focus on continued investment in cutting-edge drug development. 

Read the Bloomberg report.

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