miles white abbvie

He took over from Duane Burnham, who was an insular finance executive who rarely did interviews or spoke publicly, often telling employees that the “whale that surfaces gets harpooned.”. In Chicago, you can hear my health segments and business analysis on WBBM News Radio 780 and 105.9 FM. 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 … 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. Miles White, Chairman and CEO of Abbott, has been named in Barron’s annual list of 30 World’s Best CEOs for the seventh consecutive year. 2 executive and chief operating officer Abbott has had in more than a decade and will now become just the 13th CEO of Abbott in its 131-year history, the company said. Abbott Miles White will step down as CEO. 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 (born 1955) is an American businessman. 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. "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,” William Osborn, the lead director of Abbott’s board said of White. The oldest executive at Abbott Laboratories is Samuel Scott, 75, who is the Independent Director. Prior to that, I wrote for Modern Healthcare and several Iowa newspapers including the Des Moines Register. White will turn over the reins of the company on March 31, 2020. Photographer: Frank Polich/Bloomberg News. I have covered the rise, fall and rise again of health reform, chronicling national trends as well as the influence of Barack and Michelle Obama from Chicago's South Side on changes to the U.S. health system from my base in Chicago. He spearheaded one of the most successful acquisitions in the pharmaceutical industry, purchasing BASF's Knoll pharmaceutical business in 2001. White spun off AbbVie Inc (NYSE: ABBV) and Hospira, the latter of which was bought by Pfizer Inc. (NYSE: PFE). 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 … 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. Ford was the first official No. Mr. White, who joined Abbott in 1984, served as Abbott's Chairman and Chief Executive Officer from 1999 to 2020. Miles D White is Chairman at Abbott Laboratories Inc. See Miles D White's compensation, career history, education, & memberships. Please be aware that the website you have requested is intended for the residents of a particular country or region, as noted on that site. He currently serves as executive chairman of Abbott Laboratories. He is also Chairman of The Culver Educational Foundation and Chairman-Civic Committee at The Commercial Club of Chicago and on the board of 10 other companies. It has paid off. He is highly respected, has helped us shape the company during the last several years and understands the forces driving change in healthcare. White, who will remain executive chairman of Abbott’s board, said in a statement that he will leave Abbott in a strong position, which was a goal of his when he decided to retire. 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. © 2021 Forbes Media LLC. Photographer: Frank Polich/Bloomberg News, EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Rand Paul Says ‘Throw Your Mask Away’ After Covid-19 Vaccination, Don’t Do That. “He has positioned Abbott well for continued top-tier growth and innovation and we thank him for his countless contributions.”, 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. 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 … I am passionate about health literacy when it comes to explaining the complexities of health care. ", Abbott is a much different company than when White became CEO in 1999. Unless otherwise specified, all product and service names appearing in this Internet site are trademarks owned by or licensed to Abbott, its subsidiaries or affiliates. "While Miles White was at times considered a larger-than-life figure at Abbott, we think Bob Ford is the right person to fill Miles' shoes," Evercore ISI analyst Vijay Kumar said in a client note. “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. 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. He will remain executive chairman of the board. 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. All Rights Reserved, This is a BETA experience. Share Us With The World Relationship Science 5 Pennsylvania Plaza 15th Floor New York, NY 10001 Miles White would continue as the senior leader of Abbott while longtime Abbott corporate executive Richard Gonzalez would lead the new AbbVie corporation. 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. Here’s a timeline of … Abbott Laboratories said Tuesday that Chief Executive Miles D. White, who oversaw the transformation of the health care products maker with a series of acquisitions and spinoffs in more than 20 years at the helm, will step down as CEO in March 2020. 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. 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. Miles White is 65, he's been the Executive Chairman of the Board of Abbott Laboratories since 2020. AbbVie's value has risen from $33 per share in 2013 to $87 per share today. I write about healthcare business and policy, Industry Organization (BIO) 2006 conference in Chicago, Illinois, April 10, 2006. Mr. White is the architect behind Abbott’s ability to remain relevant and anticipate the future of healthcare through a combination of important internal investments and transactions. 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. There are 5 older and 28 younger executives at Abbott Laboratories. Miles D. White will step down from his role as CEO following 21 years with the company. Opinions expressed by Forbes Contributors are their own. 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. 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. He spearheaded one of the most successful acquisitions in the pharmaceutical industry, purchasing BASF's Knoll pharmaceutical business in 2001. 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. Links which take you out of Abbott worldwide websites are not under the control of Abbott, and Abbott is not responsible for the contents of any such site or any further links from such site. AbbVie has moved forward with numerous deals of its own including its latest acquisition of Allergan for $63 billion in 2019. But Abbott, its shareholders and board stuck with White as he transformed the company into a global market leader in several different areas and today sells some of the top selling diagnostics and medical devices. Today, he's one of … Can SARS-CoV-2 Become Even More Troublesome Than The UK And South African Variants? Here’s The Allergic Reaction Risk, 12 Most Common Questions About Covid Mutations And Vaccines, More Women Are Aware Of Pain During Cesareans Than First Thought, Study Suggests, HHS Secretary Alex Azar Submits ‘Resignation Letter,’ Effective January 20, Inauguration Day, Over 11,000 Ice Cream Cartons Recalled Due To Possible Metal Pieces, 5 Ways To Sustain The Antiracism In Medicine Momentum In 2021, Billionaire Mark Cuban Wants To Lower Drug Prices With Generics Startup, last year named long-time Abbott executive. The product is considered unique in that it measures glucose continuously for two weeks. The website you have requested also may not be optimized for your specific screen size. 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. But great CEOs, like Miles White of Abbott Labs - Get Report, can turn ... White spun off Abbvie - Get Report in 2013 to make sure that value was realized. White, who will … He will be succeeded by another long-time Abbott veteran, Robert B. Ford, who has been with the company for 23 years. Mr. White was formerly Chairman of the Federal Reserve Bank of Chicago. (Crain's) -- Abbott Laboratories Inc. CEO Miles White and his wife have made a $1-million donation to the Field Museum. In his earlier years as CEO, White guided Abbott through various scrapes with regulators that included issues he inherited from the Burnham era. The website that you have requested also may not be optimized for your screen size. He spearheaded one of the most successful acquisitions in the pharmaceutical industry, purchasing BASF’s Knoll pharmaceutical business in 2001. Pharma Longtime Abbott chief Miles White, designer of AbbVie spinoff, bows out of CEO job Miles White (right) will step down as Abbott's CEO on … 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. 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. A regular on Forbes on Fox (2014-2018), you can see me on occasion nationally on Fox Business News. He has served as chairman and CEO since 1998. I am the author of the book, "Inside Obamacare." Abbott Laboratories Chief Executive Officer Miles White will step down next year after leading the healthcare conglomerate for more than two decades. According to Miles White, CEO at the time, the purpose of the split was to allow markets to value the two businesses separately; White said that investors would "benefit from two fundamentally different investment opportunities with distinct strategic profiles and business priorities." to a Chicago Tribune report at that time. A better understood health system may save someone some money or their life. Longtime Abbott Labs CEO Miles White to Step Down in March Current president, Robert Ford, will replace him; Mr. White will remain as chairman … 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 Presence of Miles D. White's profile does not indicate a business or promotional relationship of any kind between RelSci and Miles D. White. As a result, the site may contain information on pharmaceuticals, medical devices and other products or uses of those products that are not approved in other countries or regions. 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. He is a member of the Business Council and is a fellow of the American Academy of Arts and Sciences. I'm active in education and teach in the University of Iowa School of Journalism MA in Strategic Communication program. 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 changed what was more of a pharmaceutical company into one of the world’s largest medtech companies. White will officially step down as Abbott CEO on March 31, 2020, but remain executive chairman. Abbott (NYSE: ABT) CEO Miles White is retiring in March after two decades heading the Abbott Park, Ill.-based corporation. 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. Abbott’s market capitalization, which hovered near $75 billion when he took over has soared to $149 billion today. No use of any Abbott trademark, trade name, or trade dress in this site may be made without the prior written authorization of Abbott, except to identify the product or services of the 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, … Mr. White is Executive Chairman at Abbott Laboratories and Chairman & Chief Executive Officer of Abbott Laboratories Ltd. (a subsidiary of Abbott Laboratories). He is a member of the board of trustees of Northwestern University and serves as Chairman of the Culver Educational Foundation. You may opt-out by. The board has unanimously appointed Robert Ford, a 23-year Abbott veteran, to succeed White as CEO. 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. The 64-year-old White last year named long-time Abbott executive Robert B. Ford, who is 46 years old, as the company’s president and chief operating officer in what was seen by many as a move to pick his own successor. Abbott Laboratories chief executive Miles White is stepping down effective next year after 21 years at the helm of the diversified healthcare company. White raised the company’s profile among investors and with the public on the national and global stage with Abbott investing in not only its businesses, but community and humanitarian projects. Mr. White, who joined Abbott in 1984, served as Abbott's Chairman and Chief Executive Officer from 1999 to 2020. How Safe Are Covid-19 Coronavirus Vaccines? Abbott Laboratories chief executive Miles White is stepping down effective next year after 21 years at the helm of the diversified healthcare company. … 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. "One of the primary goals in my career has been to leave the company well positioned for the people who count on us,” White said. Abbott in 1999 agreed to pay the government $100 million in what at the time was the largest largest civil settlement by a medical-product maker regulated by the Food and Drug Administration, according to a Chicago Tribune report at that time. https://www.fiercepharma.com/special-report/miles-white-abbott-laboratories Mr. White earned both a bachelor's degree in mechanical engineering and a master's degree in business administration from Stanford University. Abbott CEO Miles White to step down in March - Chicago Tribune Abbott Laboratories Chairman and Chief Executive Officer Miles White speaks during the Biotechnology ... [+] Industry Organization (BIO) 2006 conference in Chicago, Illinois, April 10, 2006. The company named Abbott's president and operating chief, Robert B. Ford, to succeed White, who will remain executive chairman. 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