Ken Frazier grew up in a poor Philadelphia neighborhood as the son of a janitor and grandson of a man born into slavery. He rose to the heights of corporate America as CEO of Merck from 2011 to 2021, becoming the first Black chief executive of a major pharmaceutical company. Ken Chenault, the CEO of American Express from 2001 to 2018, became just the third Black CEO of a Fortune 500 company in history at the time he took over.
Vagelos recognized career advancement and promotions weren’t always based on “the intrinsic talent of people,” Frazier said. “The reality of the world was if had used the normal promotional standards of the company — which, by the way, many people conflated with merit because that’s the way they always did it. That wasn’t merit. It was just the way Merck always did it — then I would not have had a chance.
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