FILE PHOTO – Chairman and CEO of Merck & Co., Kenneth Frazier, takes part in a panel discussion during the Clinton Global Initiative’s annual meeting in New York, September 27, 2015. REUTERS/Brendan McDermid
September 26, 2018
(Reuters) – Drugmaker Merck and Co Inc <MRK.N> said on Wednesday that its board voted to rescind a policy requiring its head to retire at 65, a move that will permit current Chief Executive Officer Kenneth Frazier to remain in the role beyond next year.
Frazier, who has been CEO since 2011, has agreed to remain in his position beyond December 2019, when he turns 65, the company said in a statement.
(Reporting by Tamara Mathias in Bengaluru; Editing by Shailesh Kuber)
