Kenneth Frazier facts for kids
Quick facts for kids
Kenneth Frazier
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Kenneth Carleton Frazier
December 17, 1954 Philadelphia, Pennsylvania, U.S.
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| Education | Pennsylvania State University, University Park (BA) Harvard University (JD) |
| Occupation | Executive chairman, Merck & Co. |
Kenneth Carleton Frazier, born on December 17, 1954, is an important American business leader. He is the executive chairman and former CEO of Merck & Co., a big company that makes medicines. Outside of North America, Merck is known as MSD.
When he first joined Merck, he was a lawyer. He helped the company deal with legal issues about a medicine called Vioxx. Frazier is the first African American man to lead a major pharmaceutical company. These are often listed among the Fortune 500 companies. In 2018, he became a member of the American Philosophical Society.
Time magazine included Frazier on its list of the most influential people in the world. This happened in both 2018 and 2021.
Contents
Early Life and School
Kenneth Frazier was born on December 17, 1954. He grew up in North Philadelphia. His father, Otis, worked as a janitor. Frazier has shared that Thurgood Marshall was one of his heroes when he was young.
Frazier's mother passed away when he was twelve years old. He went to Julia R. Masterman School and Northeast High School. He graduated at age 16 and then went to Pennsylvania State University. To earn extra money for college, he raised tadpoles and newts. He sold them to stores nearby.
After getting his degree from Penn State, Frazier studied at Harvard Law School. He finished law school in 1978.
His Career Journey
Starting as a Lawyer
After graduating from Harvard, Frazier began his law career. He worked at a firm called Drinker Biddle & Reath in Philadelphia. In 1991, he was asked to help a man named James Willie "Bo" Cochran. This man was on death row.
Frazier and two other lawyers took on the case. Cochran had been accused of a crime in 1976. In 1995, after 19 years, a court overturned Cochran's conviction. In 1997, Cochran had a new trial and was found not guilty. Frazier continued to help him even after leaving Drinker Biddle. During his time as a lawyer, Frazier also spent four summers teaching law in South Africa.
Leading Merck & Co.
While working at Drinker Biddle, Merck & Co. was one of Frazier's clients. Merck is one of the largest drug companies in the United States. In 1992, he joined Merck's legal team. He became a senior lawyer for the company in 1999.
As the company's main lawyer, he managed Merck's defense. This was against claims that the medicine Vioxx caused health problems. Experts thought Merck might have to pay a lot of money. Frazier said this case was "the most significant challenge" he had ever faced. He decided to fight the cases in court. The remaining cases were settled in 2007 for $4.85 billion.
In 2006, Frazier was promoted to executive vice president. He also continued as general counsel. From 2007, he led the company's biggest group, Human Health. In April 2010, he became president of Merck. On January 1, 2011, he became the CEO and joined the company's board. He took over from Richard Clark. Kenneth Frazier is the first African-American to lead a major pharmaceutical company.
As CEO, Frazier encouraged the company to take chances. This was to develop new treatments. In 2013, he put more money into research. He especially focused on improving treatments for Alzheimer's disease. Frazier's father had Alzheimer's. Frazier also wants to improve the lives of people in developing countries.
In February 2021, Merck announced that Frazier would retire as president and CEO. This happened at the end of June. He continues to serve as the executive chairman.
Other Important Work
Frazier is currently on the board of directors for Merck. He also serves on the boards of the National Constitution Center and Eikon Therapeutics. He was previously on the board of ExxonMobil and the Pharmaceutical Research and Manufacturers of America. Frazier is also a trustee for Cornerstone Christian Academy in Philadelphia.
Frazier is a member of the American Law Institute. He is also on its council. In May 2013, he gave an important speech at their annual dinner.
Frazier was part of President Trump's American Manufacturing Council. He resigned from this council on August 14, 2017. This happened after a violent rally in Virginia. Frazier stated that leaders must reject hatred and bigotry. He said these ideas go against the American belief that all people are equal.
On June 1, 2020, Frazier spoke with CNBC Squawk Box. He talked about racial tensions and violence after the murder of George Floyd. He mentioned that he could have been in a similar situation.
In August 2020, Kenneth Frazier and his wife, Andréa Frazier, gave $5 million to Jefferson Health. This money will help them work with Temple University on a new stroke program. This program will focus on African-American communities.
Images for kids
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Frazier meets with President Donald Trump in January 2017
See also
- Raymond Gilmartin
