He is a member of the board of trustees of Northwestern University and serves as Chairman of the Culver Educational Foundation. Abbott Laboratories chief executive Miles White is stepping down effective next year after 21 years at the helm of the diversified healthcare company. The product is considered unique in that it measures glucose continuously for two weeks. "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. 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. 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. White, who will … There are 5 older and 28 younger executives at Abbott Laboratories. “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. I've written for many media outlets, including the New York Times (2011-2013) and was healthcare reporter at the Chicago Tribune (1998-2011). Can SARS-CoV-2 Become Even More Troublesome Than The UK And South African Variants? 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. You may opt-out by. 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 … 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. 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 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. White will turn over the reins of the company on March 31, 2020. AbbVie's value has risen from $33 per share in 2013 to $87 per share today. Miles D. White (born 1955) is an American businessman. 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. How Safe Are Covid-19 Coronavirus Vaccines? 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. 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. 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. 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 … 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 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. 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. 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. Abbott Laboratories Chief Executive Officer Miles White will step down next year after leading the healthcare conglomerate for more than two decades. He has served as chairman and CEO since 1998. 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 am passionate about health literacy when it comes to explaining the complexities of health care. White will officially step down as Abbott CEO on March 31, 2020, but remain executive chairman. 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. 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. He is highly respected, has helped us shape the company during the last several years and understands the forces driving change in healthcare. Here’s a timeline of … “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 is 65, he's been the Executive Chairman of the Board of Abbott Laboratories since 2020. All Rights Reserved, This is a BETA experience. Share Us With The World Relationship Science 5 Pennsylvania Plaza 15th Floor New York, NY 10001 Abbott Laboratories Chairman and Chief Executive Officer Miles White speaks during the Biotechnology ... [+] Industry Organization (BIO) 2006 conference in Chicago, Illinois, April 10, 2006. White spun off AbbVie Inc (NYSE: ABBV) and Hospira, the latter of which was bought by Pfizer Inc. (NYSE: PFE). Photographer: Frank Polich/Bloomberg News. © 2021 Forbes Media LLC. 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 … 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. "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. 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. 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. Opinions expressed by Forbes Contributors are their own. He will remain executive chairman of the board. 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. He is a member of the Business Council and is a fellow of the American Academy of Arts and Sciences. The company named Abbott's president and operating chief, Robert B. Ford, to succeed White, who will remain executive chairman. 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 his earlier years as CEO, White guided Abbott through various scrapes with regulators that included issues he inherited from the Burnham era. $ 87 per share today guided Abbott through various scrapes with regulators that included issues he inherited from Burnham... Officer from 1999 to 2020 was more of a pharmaceutical company into of! 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