Originally Published MX May/June 2006
BUSINESS NEWS
Abbott Consolidates Top Leadership |
| Gonzalez |
Richard A. Gonzalez, president and chief operating officer for the medical products group of Abbott (Abbott Park, IL), has been promoted to the role of president and COO for all of the company's medical and pharmaceutical products.
His promotion comes following the departure of Jeffrey M. Leiden, MD, PhD, president and COO of the pharmaceutical products group. According to the company, Leiden resigned to pursue other career interests.
 |
| White |
"Rick is a 29-year Abbott veteran and an exceptional leader with a proven record of achievement," said Miles D. White, chairman and chief executive officer of Abbott. "He has created a portfolio of global medical products businesses that is delivering double-digit growth, built a strong medical products pipeline, and attracted and developed an impressive leadership team."
Less than two weeks after the switchover, Abbott reported that the European Commission had cleared its proposed acquisition of the vascular business of Guidant Corp. (Indianapolis). The proposed transaction, in which Gonzalez played a key role, is currently under review by the U.S. Federal Trade Commission. As part of the $6.4 billion deal, Abbott will pay $4.1 billion in cash, provide a $900 million loan to Boston Scientific, and acquire $1.4 billion in the company's stock.
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