Miles White would continue as the senior leader of Abbott while longtime Abbott corporate executive Richard Gonzalez would lead the new AbbVie corporation. I'm active in education and teach in the University of Iowa School of Journalism MA in Strategic Communication program. White spun off AbbVie Inc (NYSE: ABBV) and Hospira, the latter of which was bought by Pfizer Inc. (NYSE: PFE). Most recently, Abbott’s Freestyle Libre glucose monitoring system test used by people with diabetes became a blockbuster generating more than $1 billion in global sales even as new products enter the market. Most notably, Abbott battled with the Food and Drug Administration for years over quality control issues in its diagnostics division that White ran before he became CEO. 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. The 63-year-old White has transformed Abbott since he became CEO in 1999, spinning off its pharmaceutical division six years ago into the fast-growing drug maker Abbvie and building a … Barron credits Miles White’s “corporate engineering” that has helped investors realize great value, ma king Abbott one of the industry’s most durable growth stories. He is highly respected, has helped us shape the company during the last several years and understands the forces driving change in healthcare. I write about healthcare business and policy, Industry Organization (BIO) 2006 conference in Chicago, Illinois, April 10, 2006. 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Prior to that, I wrote for Modern Healthcare and several Iowa newspapers including the Des Moines Register. Abbott is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement of the linked site by Abbott. The inability to sell the diagnostic kits in question that were used by hospitals and large reference laboratories to test for a range of illnesses cost Abbott hundreds of millions of dollars in the time it took to eventually resolve the FDA issues. Abbott Laboratories chief Miles White will shed the CEO title next year after a 21-year run and several major transformations at the global healthcare company. Miles D. White is Executive Chairman of the Board of Abbott, a global healthcare company with a leading portfolio of products and technologies in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals. I've written for many media outlets, including the New York Times (2011-2013) and was healthcare reporter at the Chicago Tribune (1998-2011). He spearheaded one of the most successful acquisitions in the pharmaceutical industry, purchasing BASF's Knoll pharmaceutical business in 2001. How Safe Are Covid-19 Coronavirus Vaccines? Abbott (NYSE: ABT) CEO Miles White is retiring in March after two decades heading the Abbott Park, Ill.-based corporation. But more costly than the fine itself was Abbott’s agreement to stop selling some diagnostic products until it corrected the various violations of federal quality standards. to a Chicago Tribune report at that time. During his two decades as Abbott’s CEO, White has grown the Abbott Park, Ill.–based company’s annual revenue tenfold — to more than $30 billion. Ford was the first official No. Abbott Laboratories chief executive Miles White is stepping down effective next year after 21 years at the helm of the diversified healthcare company. White, a former chairman of the Federal Reserve Bank of Chicago, was instrumental in Abbott’s acquisitions of rivals St. Jude Medical and Alere, as well as the spinoffs of Abbott’s pharmaceutical arm into AbbVie Inc in 2013 and of Hospira earlier in … He will remain executive chairman of the board. In White, Abbott picked a CEO that almost immediately began to become more involved in Chicago civic affairs and began to wheel and deal to grow businesses via acquisition. Abbott Laboratories Chief Executive Officer Miles White will step down next year after leading the healthcare conglomerate for more than two decades. In 2017, Abbott closed on its $5.3 billion acquisition of medical test maker, Alere and continues to pay down debt accumulated from its $25 billion purchase of device maker St. Jude Medical, which closed in January 2017. Miles D. White is Executive Chairman of the Board of Abbott, a global healthcare company with a leading portfolio of products and technologies in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals. In addition to being Executive Chairman of the Abbott Board of Directors, Mr. White currently serves on the boards of Caterpillar Inc., and McDonald's Corporation. He changed what was more of a pharmaceutical company into one of the world’s largest medtech companies. When Miles White was named CEO of Abbott Laboratories (ABT) in 1998 at 43, he was the youngest head of a major health care company. Abbott Miles White will step down as CEO. Miles D White is Chairman at Abbott Laboratories Inc. See Miles D White's compensation, career history, education, & memberships. It has paid off. Mr. White, who joined Abbott in 1984, served as Abbott's Chairman and Chief Executive Officer from 1999 to 2020. Abbott also spun off in 2013 its drug business into Abbvie, which is now valued at more than $125 billion and when the former Hospira hospital products business sold to Pfizer in 2015, it was purchased for $17 billion. A better understood health system may save someone some money or their life. Abbott’s market capitalization, which hovered near $75 billion when he took over has soared to $149 billion today. CEO Miles White (Image from Abbott) Few medical device companies have seen the growth and transformation that Abbott (NYSE: ABT) has seen under the leadership of Miles White. Abbott CEO Miles White to step down in March - Chicago Tribune Miles D. White will step down from his role as CEO following 21 years with the company. I've written about health care for three decades, starting from my native Iowa where I covered the presidential campaign bus rides of Bill and Hillary Clinton through the Hawkeye state talking health reform and the economy. Abbott announced that Miles 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 is a member of the Business Council and is a fellow of the American Academy of Arts and Sciences. (Crain's) -- Abbott Laboratories Inc. CEO Miles White and his wife have made a $1-million donation to the Field Museum. The board has unanimously appointed Robert Ford, a 23-year Abbott veteran, to succeed White as CEO. … He will be succeeded by another long-time Abbott veteran, Robert B. Ford, who has been with the company for 23 years. He currently serves as executive chairman of Abbott Laboratories. Miles White steps aside at Abbott—but only so far ... Shares of Abbott and North Chicago-based AbbVie—the pharmaceutical spinoff now facing the imminent loss of … You may opt-out by. He spearheaded one of the most successful acquisitions in the pharmaceutical industry, purchasing BASF's Knoll pharmaceutical business in 2001. Abbott Labs teams are working around the clock to ramp up COVID-19 tests and to develop more diagnosis products, outgoing CEO Miles White said. AbbVie has moved forward with numerous deals of its own including its latest acquisition of Allergan for $63 billion in 2019. Mr. White, who joined Abbott in 1984, served as Abbott's Chairman and Chief Executive Officer from 1999 to 2020. https://www.fiercepharma.com/special-report/miles-white-abbott-laboratories There are 5 older and 28 younger executives at Abbott Laboratories. White, who will … Mr. White earned both a bachelor's degree in mechanical engineering and a master's degree in business administration from Stanford University. Here’s a timeline of … AbbVie's value has risen from $33 per share in 2013 to $87 per share today. 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