There's a very small and exclusive club of GCs who have been -elevated to the role of president or CEO at major corporations: Jeff Kindler at Pfizer, Charles Prince, who stepped down from his post at Citigroup in November, and Lowry Kline at Coca-Cola Enterprises Inc., to name a few.
In 2007 the club welcomed Kenneth Frazier, former GC at Merck & Co. Inc., and Angela Braly, GC of Wellpoint.
On Aug. 1 Frazier became president of Merck's global human health division, where he will oversee 30,000 employees. For the past two years Frazier has led a grueling but mostly successful strategy of fighting the Vioxx product liability suits on an individual basis. In November the company changed its strategy and settled most of the remaining cases for $4.85 billion.
Braly's promotion came in June. While GC she successfully negotiated the $6.5 billion acquisition of rival WellChoice in 2005.