Ken Frazier, Chairman and CEO of Merck, has been crowned 2021’s Chief Executive of the Year.
An independent committee selected Frazier as 2021’s CEO for his exceptional long-term leadership; as well as his years of commitment to racial equality and social justice issues, confirmed Chief Executive magazine. The honour recognises courageous, long-term executive leadership for shareholders and society.
Under his leadership, Merck enjoyed a decade of unprecedented transformation and growth, achieving powerful results for shareholders, patients and society. Since becoming Chairman and CEO in 2011, Frazier has led a refocus at Merck on research. This resulted in numerous breakthrough products that have provided far-reaching benefits to society; such as the cancer blockbuster Keytruda.
In fact, Frazier joins former Merck CEO P Roy Vagelos as Chief Executive of the Year awardee. Vagelos won the award back in 1992. Previous Chief Executive of the Year winners over the past 35 years include Bill Gates, Brian Moynihan, Arne Sorenson, Michael Dell, AG Lafley, Marillyn Hewson, John Chambers, Bob Iger, Anne Mulcahy, Larry Bossidy, Andy Grove and Herb Kelleher; amongst others.
‘EXTRAORDINARY’ & ‘WORLD-CLASS’ CEO
“Ken is an extraordinary individual who defines the meaning of leadership, not only in the corporate world but in society as well,” commented Tom Quinlan, Chairman, President and CEO of LSC Communications and a longtime member of the selection committee. “This is evident from the results and milestones Merck has achieved during his tenure; coupled with the courageous actions Ken has taken over the years to improve our society.”
“Ken Frazier is a world-class CEO,” added Dan Glaser, President and CEO, Marsh & McLennan. “He delivered excellent financial performance over a sustained period; and, more importantly, he demonstrated courage and visible leadership during these troubled times.”
STRONG ADVOCATE FOR SOCIAL JUSTICE & INCLUSION
As a strong, public advocate for social justice and economic inclusion, Frazier is the recipient of numerous awards and honours. They include 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; the NAACP Legal Defense and Educational Fund National Equal Justice Award, and the National Minority Quality Forum’s Lifetime Achievement Award. He is also Co-founder and Co-chair of OneTen; a coalition of leading organisations committed to upskilling, hiring and promoting one million Black Americans into family-sustaining jobs, as reported.
Commenting on the award recognition, Frazier stated: “I am most grateful for this special recognition; and for the commitment and genius of my Merck colleagues who made it possible. It is a distinct privilege to serve as steward of an organisation devoted to saving and improving lives; and I’m honoured to have that opportunity as Merck’s CEO. Our company’s success is inspired by a common purpose; translating cutting-edge science into life-changing medicines and vaccines.”
OUTSTANDING LEADERSHIP
“This award reflects the outstanding leadership that Ken has exhibited throughout his illustrious career,” said Tamara L Lundgren, Chairman and CEO of Schnitzer Steel Industries. “He has been an inspired and inspiring leader; delivering excellent results, continually innovating, and providing an impactful voice on critical issues that affect our country and the business community.”
Adding to her comments, Adam Aron, CEO and President, AMC Entertainment, stated: “Ken Frazier is a truly inspiring leader whose brilliant business acumen is clear. Over and over again, he also has shown himself to be both bold and courageous. He is a class act in every respect and on every dimension.”
Ted Bililies, Chief Talent Officer, Managing Director, AlixPartners, who serves as the exclusive adviser to the 2021 Selection Committee, agrees. “Throughout his decade as CEO of Merck, Ken has consistently exemplified the core attributes of a truly transformative leader,” noted Billies. “With empathy, authenticity and a relentless focus on strengthening the culture, Ken steered Merck and its people through unprecedented disruption to genuine transformation. Always firm in his principles, Ken has improved the lives of countless people while serving as an impressive advocate for social justice. I congratulate Ken on this much-deserved recognition.”
Frazier will receive the award at an invitation-only event; hosted by Chief Executive Group at the Nasdaq MarketSite in New York City in October 2021.
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