Published on 21 Feb 2024 on Zacks via Yahoo Finance
AbbVie (ABBV) Announces Appointment of New CEO Robert Michael
AbbVie ABBV announced that its current president and chief operating officer, Robert A. Michael, has been appointed as the new chief executive officer (CEO). The board unanimously selected Robert Michael to succeed Richard A. Gonzalez, who is retiring from his role as CEO after serving in this capacity since AbbVie was formed in 2013. AbbVie came into existence on Jan 1, 2013, after Abbott Laboratories divested its pharmaceutical division. Gonzalez will become executive chairman of the board of directors, effective Jul 1, 2024, when the transition happens.
Robert Michael has also been appointed as a member of the board of directors, effective Jul 1, 2024.
In the past year, AbbVie’s stock has risen 16.6% compared with an increase of 28.9% for the industry.