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Merck Names Robert Davis CEO Effective July 1; Kenneth Frazier To Continue As Exe. Chairman

Merck & Co. Inc. (MRK) announced Thursday the appointment of Robert Davis, current executive vice president, global services and chief financial officer, as Chief Executive Officer, as well as a member of the board, effective July 1.

Davis succeeds Kenneth Frazier, current chairman and chief executive officer, who will retire as CEO, effective June 30. Frazier will continue to serve on Merck's board of directors as executive chairman, for a transition period to be determined by the board.

The CEO-designate will become president of Merck, effective April 1, at which time the company's operating divisions, such as Human Health, Animal Health, Manufacturing, and Merck Research Laboratories, will begin reporting to him.

Davis joined Merck as chief financial officer in 2014. In 2016, his role was expanded to include the company's global support functions.

Prior to joining Merck, he was corporate vice president and president of Baxter's Medical Products business. Davis previously spent more than 14 years at Eli Lilly and Co.

Frazier joined Merck in 1992 as vice president, general counsel and secretary of the Astra Merck group. He was named president of Merck in May 2010, became Merck's chief executive officer and a Board member in January 2011, and chairman of the board on December 1, 2011.

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