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Merck’s new CEO Robert Davis begins, after Ken Frazier's retirement
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Pharmaceutical giant Merck, which boasts some of the world's best-selling drugs, has a new CEO to lead the company.
Robert Davis became chief executive officer of Merck on Thursday, one day after former CEO Ken Frazier retired.
Merck announced Frazier’s retirement in February, saying that his last day would be Wednesday, June 30. Frazier will remain as the executive chairman of the board for Merck during a "transition period" that will be determined by the board, the announcement said at the time.
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According to that announcement, the board "unanimously elected" Davis — who was formerly Merck’s chief financial officer and the executive vice president of global services — to become the company’s new CEO as well as a member of the board, starting Thursday.