Philly's Kenneth Frazier to become Merck chairman

Philly's Kenneth Frazier, who graduated from Northeast High, will soon move up to be Merck's chairman of the board.

Merck said Thursday that Richard T. Clark, who is chairman of the board and former chief executive officer, will retire from the company and the board of directors effective Dec. 1.

Clark led the company for five years as president and chief executive officer from 2005 through 2010. He has served as a Merck director since May 2005 and chairman of its board of directors since 2007.

In January of this year, Frazier became Merck's president and CEO and a member of its board.