C EO O F THE YE AR
KEN FRAZIE LONG GAME His transformational leadership inside—and outside— of Merck & Co. offers one of the most compelling arguments yet for an increasingly influential style of doing business: patiently, and for the greater good. “The important thing about leadership,” says Frazier, “is to be anchored around principle.” BY DAN BIGMAN Go into Ken Frazier’s office—his new office, a far smaller one since he took on the role of executive chairman following a decade in the CEO chair at Merck—and he’ll show you the photos. Six in all: his son, his wife, his daughter, one with him and former President Barack Obama, one with Warren Buffett and one with Pope Francis. The Pope may seem an outlier, but Frazier, who turns 67 in December, says they actually had a lot to talk about when they met in 2017. The Pontiff is a chemist by background and used Merck reference books. He used the session to lobby Frazier. “He wanted to encourage Merck to do more for people in the world who were suffering,” says Frazier. “His comment was essentially: ‘The distinction between saints and sinners is less actionable because we’re all sinners.’ He said, ‘We have to think about the distinction between the rational and the irrational,’ which I thought was an interesting thing to hear from a Pope, right? And he sent me off on my way, saying, ‘Can you do more for our brothers and sisters who are suffering around the world?’” That Papal “ask” encapsulates life as CEO of one of the world’s largest drugmakers. Yes, of course it’s about commerce, but, as anyone who’s ever had a sick parent, kid or 24 / CHIEFEXECUTIVE.NET / FALL 2021 PHOTO: GUERIN BLASK
