In his earlier years as CEO, White guided Abbott through various scrapes with regulators that included issues he inherited from the Burnham era. In Chicago, you can hear my health segments and business analysis on WBBM News Radio 780 and 105.9 FM. White will turn over the reins of the company on March 31, 2020. 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. 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. Mr. White earned both a bachelor's degree in mechanical engineering and a master's degree in business administration from Stanford University. He changed what was more of a pharmaceutical company into one of the world’s largest medtech companies. I am passionate about health literacy when it comes to explaining the complexities of health care. 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. 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. 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 (NYSE: ABT) CEO Miles White is retiring in March after two decades heading the Abbott Park, Ill.-based corporation. White will officially step down as Abbott CEO on March 31, 2020, but remain executive chairman. 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. 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 … He will remain executive chairman of the board. 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. "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. 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. 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. Abbott CEO Miles White to step down in March - Chicago Tribune Ford was the first official No. 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. Prior to that, I wrote for Modern Healthcare and several Iowa newspapers including the Des Moines Register. Mr. White, who joined Abbott in 1984, served as Abbott's Chairman and Chief Executive Officer from 1999 to 2020. 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. Here’s a timeline of … The board has unanimously appointed Robert Ford, a 23-year Abbott veteran, to succeed White as CEO. White, who will … Abbott’s market capitalization, which hovered near $75 billion when he took over has soared to $149 billion today. 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." 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 Laboratories chief executive Miles White is stepping down effective next year after 21 years at the helm of the diversified healthcare company. Abbott Laboratories chief executive Miles White is stepping down effective next year after 21 years at the helm of the diversified healthcare company. Miles White is 65, he's been the Executive Chairman of the Board of Abbott Laboratories since 2020. 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 is Executive Chairman at Abbott Laboratories and Chairman & Chief Executive Officer of Abbott Laboratories Ltd. (a subsidiary of Abbott Laboratories). I write about healthcare business and policy, Industry Organization (BIO) 2006 conference in Chicago, Illinois, April 10, 2006. 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. © 2021 Forbes Media LLC. He will be succeeded by another long-time Abbott veteran, Robert B. Ford, who has been with the company for 23 years. Miles D White is Chairman at Abbott Laboratories Inc. See Miles D White's compensation, career history, education, & memberships. AbbVie has moved forward with numerous deals of its own including its latest acquisition of Allergan for $63 billion in 2019. 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. Photographer: Frank Polich/Bloomberg News. 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. White will shed the CEO title next year after a 21-year run and several major transformations at the global healthcare company. 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. 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. I'm active in education and teach in the University of Iowa School of Journalism MA in Strategic Communication program. 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. 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. 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. 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. I've written for many media outlets, including the New York Times (2011-2013) and was healthcare reporter at the Chicago Tribune (1998-2011). 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. The product is considered unique in that it measures glucose continuously for two weeks. 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 …
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