11/13/2019, 2:42 PM (Source: TeleTrader)
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Abbott's CEO to step down in March 2020

Abbott Laboratories revealed on Wednesday that its current CEO, Miles White, will step down on March 31 next year, and that he will be succeeded by Robert Ford, the current president and COO of the company.

"One of the primary goals in my career has been to leave the Company well positioned for the people who count on us. 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," White stated in the press release.

The health care firm also said that White will stay on the board as the executive chairman. The company's shares increased by 0.36% in premarket trade at 8:35 am ET.

Breaking the News / MS