Distinguished Speakers Series: Ken Frazier, Merck

Merck Executive Chairman Ken Frazier spoke with Fuqua School of Business Dean Bill Boulding on April 5, 2022. The talk was part of the school’s Distinguished Speakers Series.
More information about the series can be found at www.fuqua.duke.edu/dss
00:00 Intro
01:59 How change from career as lawyer to business role
05:18 Any idea you would become CEO when you first joined Merck
06:56 Pushback from scientists at company against a lawyer coming in
09:22 Going against industry trend by investing heavily in R&D
12:52 Reflections on how COVID became a polarizing element in society
16:58 Public trust in business
17:58 Business now most trusted institution, expectations of CEOs changed regarding social issues
21:48 Taking a stand following Charlottesville incident in 2017
25:14 Other members of president's council
26:46 After decision, handling possible negative consequences for company
27:58 Were you gratified to see other members of council resign?
29:41 Exxon decision to withdraw from Russia over Ukraine invasion
35:13 Pharma companies not withholding essential medical care
37:46 Controversy over businesses speaking out on certain issues
43:05 Criticism of companies taking stands on social issues
46:26 Balancing weighing in on issues without taking political sides
50:44 Keep employees on board when they may disagree with what CEO says
53:28 Business is one of last places where people don't choose who they associate with
54:36 OneTen and business initiatives for racial equity and justice

[@MsColetha]

Why do I feel like there’s more to the story than what he saying?