Young Journalists Club | Latest news of Iran and world

News ID: 29322
Publish Date: 15:07 - 26 September 2018
TEHRAN, September 26 -Merck & Co Inc’s (MRK.N) Kenneth Frazier will stay on as chief executive beyond 2019, the drugmaker said on Wednesday, after it scrapped a policy requiring its CEO to retire at the age of 65.

Merck's Frazier to remain CEO beyond 2019TEHRAN, Young Journalists Club (YJC) -Merck & Co Inc’s (MRK.N) Kenneth Frazier will stay on as chief executive beyond 2019, the drugmaker said on Wednesday, after it scrapped a policy requiring its CEO to retire at the age of 65. 

“CEO succession has been our top priority, and removing the mandatory retirement policy enables the Board to make the best decision concerning the timing of that transition,” Merck’s lead director Leslie Brun said.

Frazier, who turns 65 in December 2019, was named Merck’s CEO in 2011. The company’s stock price has nearly doubled since then.

Under Frazier, Merck has also seen its cancer immunotherapy Keytruda rake in blockbuster sales and become one of the leading products in a new generation of oncology treatments.

Source:Reuters

Tags
Merck ، CEO ، Frazier
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