Allergan’s parent company, AbbVie, has appointed longtime executive Robert (Rob) A. Michael as the company’s next chief executive officer (CEO) and member of the Board of Directors.
Refresh me on this company.
Headquartered in Chicago, Illinois, and established in 2013, AbbVie is a global biopharmaceutical focused on developing medicines and solutions to address complex health issues in patients across 175+ countries in the following areas:
- Eyecare
- Immunology
- Oncology
- Neuroscience
- Aesthetics
- Other areas
Since launching, the company has reported increasing its market capitalization from $54 billion to $300+ million.
Now Michael; what’s his background?
Michael’s experience includes 31 years of leadership positions at companies in various core areas: pharmaceuticals, aesthetics, diagnostics, diabetes care, and nutrition.
Michael launched his career nearly 20 years before Abbvie separated from Abbott in 2013.
He began by joining Abbott’s financial development team before going on to hold various roles, including division controller and nutrition supply chain and division controller.
And after AbbVie was established?
Per AbbVie, he founded and headed up the company’s first financial planning organization as vice president, later progressing his leadership experience by serving as vice president (of controller for commercial operations; treasurer; and corporate controller).
How about most recently?
Michael was named chief financial officer (CFO) in 2018; vice chairman of finance and commercial operations in 2021; and vice chairman and president in 2022.
In 2023, he was named president and chief operating officer (COO) for AbbVie, where his role extended to leading global commercial operations, finance, corporate human resources, global operations, business development, and the company’s corporate strategy.
That’s pretty impressive. So who is he replacing?
Michael is succeeding Richard A. Gonzalez, AbbVie’s chairman of the board and founding CEO since its establishment.
Prior to 2013, Gonzalez was a 30-year veteran of Abbott, where he served as president and COO.
Is Gonzalez staying at the company?
Yes, actually. According to AbbVie, Gonzalez will become executive chairman of the Board of Directors after retiring as CEO.
And when will this take effect?
July 1, 2024.