AbbVie CEO Rick Gonzalez leaves post

  • After almost 12 years in the position
  • Accolades, praise and thanks for Gonzalez
  • Rob Michael taking over
  • Gonzalez will remain as executive chairman at AbbVie
  • Gonzalez made a lengthy statement and said 234 words

(exechange) — North Chicago, Illinois, February 20, 2024 — This news came shortly after Presidents’ Day. Rick Gonzalez, chief executive of AbbVie, leaves his position. As announced by AbbVie Inc. in a news release and in a regulatory filing published on Tuesday, February 20, 2024, Richard A. (Rick) Gonzalez leaves his post as chief executive officer at the drugmaker, after almost 12 years in the role, effective July 1, 2024.

Rick Gonzalez’s duties as CEO will be taken over by Robert A. (Rob) Michael, currently president and chief operating officer at AbbVie Inc.

“The opportune time”

The planned management change is explained as follows. Gonzalez stated: “The board and I have been planning for a seamless CEO succession for some time. Now is the opportune time to hand the CEO role over to Rob.”

Gonzalez will remain as executive chairman at AbbVie

AbbVie stated: “Mr. Gonzalez, who has served as CEO since the company’s formation in 2013, will retire from the role of CEO and become executive chairman of the board of directors, effective July 1, 2024. Additionally, the board has appointed Mr. Michael as a member of the board of directors effective July 1, 2024.”

Share price increase since February 2019

The announcement follows an increase in AbbVie Inc.’s share price of 120% since February 2019.

In the position of CEO since 2013

Rick Gonzalez became CEO of the Company in 2013.

Gonzalez is the chairman and chief executive officer of AbbVie, a position he has held since 2013.

He served as Abbott’s executive vice president of the pharmaceutical products group from July 2010 to December 2012, and was responsible for Abbott’s worldwide pharmaceutical business, including commercial operations, research and development, and manufacturing.

He also served as president, Abbott Ventures Inc., Abbott’s medical technology investment arm, from 2009 to 2011.

Gonzalez joined Abbott in 1977 and held various management positions before briefly retiring in 2007, including: Abbott’s president and chief operating officer; president, chief operating officer of Abbott’s Medical Products Group; senior vice president and president of Abbott’s former Hospital Products Division; vice president and president of Abbott’s Health Systems Division; and divisional vice president and general manager for Abbott’s Diagnostics Operations in the United States and Canada.

234 words by Rick Gonzalez

In the release announcing his departure as CEO of AbbVie Inc., Rick Gonzalez received accolades, praise and thanks.

In announcing his departure, Rick Gonzalez made a lengthy statement and said 234 words.

“The business is performing very well”

Rick Gonzalez stated: “On behalf of AbbVie’s board, I am extremely excited that Rob has agreed to serve as AbbVie’s next CEO. As a key member of the Executive Leadership Team, he has had a tremendous impact on AbbVie. From establishing our financial planning organization, to the development of our diversified business strategy, to successfully navigating the end of exclusivity for Humira in the U.S., Rob has been integral to AbbVie’s impact since inception. Rob has also played an important role in key business development opportunities that have been critical to delivering on our long-term growth strategy, including the acquisitions of Allergan and ImmunoGen and the pending Cerevel Therapeutics transaction. I have known and worked with Rob for many years, and he has the experience, leadership capabilities and strategic vision to accelerate AbbVie’s success well into the future. The board and I have been planning for a seamless CEO succession for some time. Now is the opportune time to hand the CEO role over to Rob. The business is performing very well and is in a strong position for the long term. Our pipeline contains multiple promising candidates to sustain our future strong growth. It has been a privilege and immensely gratifying to serve with all my AbbVie colleagues for the past 11 years growing AbbVie into what it is today, and I look forward to continuing to work with Rob as executive chairman of the board.”

The above text is an excerpt from the exechange report 9.2024 ($), publication date February 26, 2024.