Kenneth Frazier: Former CEO of Merck & Co.
Kenneth Carleton Frazier (born December 17, 1954) is an American business executive that served as the President and CEO of American multinational pharmaceutical company Merck & Co. from 2011 to 2021. He is the first African-American to lead a major pharmaceutical company. As of July 2021, he is the Executive Chairman of Merck’s board of directors.
Merck’s stock more than doubled under Frazier’s leadership, and the company developed the cancer immunotherapy drug Keytruda which generated more than $14 billion in sales in 2020.
Growing Up
Frazier was born and raised in North Philadelphia during a time of school desegregation. His father Otis was a janitor at a United Parcel Service facility, son of a South Carolina sharecropper and grandson of a slave. His mother Clara died when he was 12.
Father’s Advice: What other people think of you is none of your damn business.
Education
He graduated at age 16 from Northeast High School through an accelerated program. He earned his bachelor’s degree in political science in 1975 from The Pennsylvania State University. He graduated from Harvard Law School with a J.D. (Juris Doctor) in 1978.
Career
Frazier joined Merck & Co. in 1992 as general counsel of the public affairs division. Prior to joining Merck, He was a Partner with the Philadelphia law firm of Drinker Biddle & Reath.
While he was at Drinker Biddle & Reath, one of their biggest clients was Merck & Company. He was part of the litigation team that defended Merck in various lawsuits. In 1992, former Merck CEO Roy Vagelos offered him a job to join Merck’s in-house legal team. He was promoted to senior vice president and general counsel for legal and public affairs in 1999.
As general counsel, he was credited with overseeing Merck’s defence against claims that the anti-inflammatory drug Vioxx had caused heart attacks and strokes. He chose to fight all cases in court rather than settle them all quickly.
Leadership at Merck
Under Ken’s leadership, Merck delivered innovative life-saving medicines and vaccines as well as long-term and sustainable value to its multiple stakeholders. Ken substantially increased Merck’s investment in research, including early research, while refocusing the organization on the launch and growth of key products that provide far-reaching benefits to society. He also led the formation of philanthropic and humanitarian initiatives that build on Merck’s 130-year legacy.
After almost 30 years with Merck & Co. where he spent 10 years as the CEO. In 2021, Frazier retired as president and CEO of Merck while remaining as the executive chair of the board of directors. He joined venture capital firm General Catalyst as chair of health insurance initiatives.
Philantropy
Frazier is Co-Founder and Co-Chair of OneTen, a coalition of leading organizations committed to upskilling, hiring and promoting one million Black Americans into family-sustaining jobs. He co-founded OneTen with the former CEO and chairman of American Express Kenneth Chenault.
In August 2020, Kenneth and his wife, Andréa Frazier donated $5 million to Jefferson Health. Through “The Frazier Family Coalition for Stroke Education and Prevention”, the fund aims to Reduce Stroke in Philadelphia’s Most Vulnerable Communities.
American Manufacturing Council
Frazier was the sole African-American member of the American Manufacturing Council, a group of experienced chief executive officers (CEOs) invited to serve in an advisory role to President Donald J. Trump during his first year in the White House. He resigned on August 14 after President Trump’s statements regarding events in Charlottesville.
Board Membership
- Merck & Co. (Chairman), Weill Cornell Medicine, Eikon Therapeutics, the National Constitution Center, Cornerstone Christian Academy in Philadelphia, PA.
Recognition
- Fortune World’s 50 Greatest Leaders in 2018
- TIME’s 100 Most Influential People - 2018, 2021
Awards
- The first recipient of the Forbes Lifetime Achievement Award for Healthcare.
- The Anti-Defamation League Courage Against Hate Award,
- The Botwinick Prize in Business Ethics from Columbia Business School,
- The Legend in Leadership Award from the Yale School of Management
- Chief Executive’s 2021 CEO of the Year
Kenneth is married to Andréa Frazier. They have two children: James and Lauren.
Kenneth Frazier’s profile is part of our Black Excellence Series.
