Prognosis
Merck Prepares for CEO’s Departure With Internal Successor Hunt
- Frazier had extended contract, doing away with retirement cap
- Board weighing in-house candidates as well as outside names
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Merck & Co. has begun to prepare for the departure of Chief Executive Officer Kenneth Frazier and is focusing its search for an eventual successor on a pool of internal candidates, according to people familiar with the matter.
The drugmaker said in September that Frazier would remain CEO beyond 2019, rolling back a policy that would have required him to retire when he turns 65 in December. Frazier has presided over a period of strong growth at the drugmaker that has been built largely on the success of the blockbuster cancer therapy Keytruda.