NEW YORK, Aug. 6, 2014 /PRNewswire/ — Kenneth Frazier, chief executive officer of Merck, has been named Corporate Executive of the Year in the annual BLACK ENTERPRISE Corporate Leadership issue, its July-August issue.
Since joining Merck in 1992, Frazier has held a broad range of management positions. Since taking the helm as CEO in 2011, Frazier and his management team have been responsible for increasing shareholder value, which has appreciated by 86%. For his leadership role in bolstering Merck’s corporate performance, driving innovation, and exerting an impact on global health, Frazier has been selected as the 2014 BLACK ENTERPRISE Corporate Executive of the Year.
“We are extremely pleased to honor Merck Chairman and CEO Kenneth Frazier as this year’s Corporate Executive of the Year,” says BLACK ENTERPRISE CEO Earl “Butch” Graves Jr. “With this selection, we continue the tradition of recognizing an African American corporate leader who performs impeccably at the highest level. Ken represents one of the most visionary CEOs among those who run the world’s largest publicly traded companies today. His brand of leadership has demonstrated that the infusion of innovation and diversity can produce a profitable organization that continually develops groundbreaking products, increases shareholder value, and has a tremendous global impact.”
“Kenneth Frazier is one of the world’s most influential chief executives in global business and specifically in the pharmaceutical industry,” says BLACK ENTERPRISE Editor-in-Chief Derek Dingle. “He has effectively managed a massive operation that invests close to $8 billion in research and development to produce drugs, vaccines, and therapies that have improved the quality of life and in many cases, saved the lives of millions around the globe. He has guided his team of scientists, attorneys, marketers, and other corporate executives with a focus on innovation in organizational management and product development and an aggressive pursuit of emerging markets.”
The July-August 2014 issue of BLACK ENTERPRISE also includes a special report on the nation’s top black corporate directors. The selection criteria and comprehensive profiles of some of the nation’s most powerful black corporate board members are available in the report.
BLACK ENTERPRISE is the premier business, investing, and wealth-building resource for African Americans. Since 1970, BE has provided essential business information and advice to professionals, corporate executives, entrepreneurs, and decision makers. Every month, BLACK ENTERPRISE magazine provides 4.1 million readers with information on entrepreneurship, careers, and financial management. A multimedia company, be also produces television programming, business and lifestyle events, Web content, and digital media. BLACK ENTERPRISE is the definitive source of information for and about African American business markets and leaders, and the authority on black business news and trends.