Merck elects Robert M Davis as new Chairman

"For decades, Ken has embodied Merck's core principles and values, anchored by a singular focus on creating meaningful value for our patients, employees, communities, and shareholders," Glocer added. "Ken is a once-in-a-generation leader, and his positive impact on our company and patients everywhere will reverberate for decades."

Glocer continued, "Rob Davis has shown himself to be an innovative leader with a deep understanding of Merck and our industry. We look forward to working with him as our new chairman and to his continued contributions."

Frazier said, "Merck is powered by the talent, passion, and commitment of many thousands of people around the world who are united by a common goal: harnessing the power of science to solve the world's most pressing health challenges. It has been a distinct pleasure and privilege to be a part of the Merck team, and I will be forever grateful to my Merck colleagues for their dedicated efforts that have led to the company's many important achievements."

"I am also grateful to the Merck board of directors for their expertise and support through the years. With Rob Davis as their new chairman, I am confident that the board will continue to help guide the company in a manner that will allow it to succeed competitively and remain committed to its mission," Frazier added.

"On behalf of Merck management and our colleagues around the world, I want to express our deepest appreciation for Ken's innumerable contributions and indelible impact on our company and global health," said Davis. "During his tenure, Ken led with conviction, advocated for patients, and created meaningful value for our stakeholders. He has been an exemplar of purpose-driven leadership, vision, and courage. I am honored to lead Merck as chairman and chief executive officer as we continue to build on his profound legacy."