- Mr. White will remain Executive Chairman of the Board
- Mr. Ford has been elected to the Abbott Board
ABBOTT PARK, Illinois, Nov. 13,
2019 /PRNewswire/ -- Abbott (NYSE: ABT) today announced
that Miles D. White will be stepping
down as Chief Executive Officer on March 31,
2020, after a remarkable 21-year tenure, the second longest
for a non-founder in today's S&P 100. He will remain Executive
Chairman of the Board. The Board has unanimously appointed
Robert B. Ford, a 23-year Abbott
veteran, to succeed Mr. White as CEO. Mr. Ford currently serves as
President and Chief Operating Officer and has been elected to the
Board.
"I am honored to have had the privilege to lead such a great
institution and to have worked with so many talented individuals
over the years," said Mr. White. "One of the primary goals in my
career has been to leave the Company well positioned for the people
who count on us. Today, the Company is the strongest it has been
during my tenure, and I am confident that Robert will lead Abbott
successfully into the future. He is highly respected, has helped us
shape the Company during the last several years and understands the
forces driving change in healthcare."
Mr. Ford will become the 13th CEO of Abbott in its
131-year history, all having been appointed from within the
Company, a testament to Abbott's strong management philosophy and
succession-planning discipline. Mr. Ford originally joined Abbott
in the Company's Diabetes Care business in 1996. He was appointed
President and Chief Operating Officer in October 2018.
Mr. Ford has served in many leadership roles within the Company,
including in the Nutrition and Medical Device businesses. As
Executive Vice President of Medical Devices, he oversaw the
integration of St. Jude Medical, Abbott's largest acquisition, and
led Abbott's Diabetes Care business and the launch of
FreeStyle® Libre. He earned a bachelor's degree from
Boston College and a master's degree in
business administration from the University of
California, Berkeley, Haas
School of Business.
"It is a tremendous honor to have the opportunity to lead
Abbott," said Mr. Ford. "I thank Miles for his mentorship, and I
look forward to working with my colleagues to do what Abbott people
do best – anticipate where science, medicine and technology are
going and innovate to best serve our customers, shareholders and
communities."
Mr. White was named Chairman and Chief Executive Officer in
1998. He has strategically reshaped Abbott several times, most
recently building Abbott's leadership in medical devices and
diagnostics with the additions of St. Jude Medical and Alere, and
internal advances like FreeStyle Libre, the world's leading
continuous glucose monitor, and the Alinity™ family of
diagnostics systems.
Mr. White also spun out two highly successful companies, Hospira
in 2004 (which was acquired by Pfizer in 2015), and AbbVie in 2013,
which is a Fortune 100 company today. He spearheaded one of
the most successful acquisitions in the pharmaceutical industry,
purchasing BASF's Knoll pharmaceutical business in 2001. That
transaction brought with it the industry-leading drug,
Humira®1. Mr. White's bold strategic thinking and
transformative actions have consistently made Abbott one of the
world's most admired companies.
"We are deeply grateful for the leadership and strategic
direction Miles has provided over the past two decades," said
William A. Osborn, lead director and
chair of the Nominations and Governance Committee of Abbott's Board
of Directors. "He embodies the values of the Company in every
respect and his impact on employees, shareholders, and most
importantly, patients, will continue for years to come. He has
positioned Abbott well for continued top-tier growth and innovation
and we thank him for his countless contributions.
"Robert is the right person for Abbott's future. He is a proven
Abbott leader with significant experience running Abbott's global
businesses. We're confident he will continue Abbott's outstanding
legacy of success," continued Mr. Osborn.
About Abbott:
Abbott is a global healthcare leader
that helps people live more fully at all stages of life. Our
portfolio of life-changing technologies spans the spectrum of
healthcare, with leading businesses and products in diagnostics,
medical devices, nutritionals and branded generic medicines. Our
103,000 colleagues serve people in more than 160 countries.
Connect with us at www.abbott.com, on LinkedIn at
www.linkedin.com/company/abbott-/, on Facebook
at www.facebook.com/Abbott and on Twitter @AbbottNews and
@AbbottGlobal.
1 Humira is a registered trademark of AbbVie,
Inc.
Photo -
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