Abbott plans succession after long-time CEO Miles White retirement
US healthcare and medical devices company Abbott (NYSE: ABT) today announced that Miles White will be stepping down as chief executive on March 31, 2020, after a remarkable 21-year tenure, the second longest for a non-founder in today's S&P 100, according to the company.
He will remain executive chairman of the board, which has unanimously appointed Robert 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.
Mr Ford will become the 13th CEO of Abbott – which spun off its pharmaceutical business into AbbVie in 2013 - 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 COO in October 2018.
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