Merck

Kenneth C. Frazier, currently president of Merck, has been appointed chief executive officer and president of the company, as well as a member of the board, effective January 1, 2011. Mr. Frazier succeeds Richard T. Clark, who has served as chief executive officer since 2005 and will continue as chairman of the board.

“Merck’s board of directors and I have great confidence in Ken as the right CEO to lead this exceptional company into a new era of global health care,” said Mr. Clark. “Ken has made considerable contributions to our business every step of the way during his 18 years with Merck. His intellect, drive and deep understanding of our industry will greatly benefit Merck and our mission of improving and saving lives through scientific innovation. Ken is a gifted leader who has what it will take to ensure Merck’s success as we face unprecedented change and enormous opportunity.”

Mr. Frazier said, “I consider it a privilege to serve Merck in this capacity, and I am honored and excited about the opportunity. My immense respect for the people of Merck only reinforces my strong optimism about our future. Merck employees truly are our greatest advantage. As CEO, my responsibility will be to enable Merck colleagues to focus their considerable talent, creativity and commitment on meeting the changing needs of our global customers.

As chairman, Mr. Clark will focus on leadership of the board of directors, provide strategic counsel to Mr. Frazier, oversee the planned formation of Merck’s joint venture in animal health with sanofi-aventis and represent Merck with key external organizations.