AbbVie (NYSE: ABBV), a leading US pharmaceutical company, has announced that Rick González, who has been at the helm since the company’s separation from Abbott (NYSE: ABT) in 2013, will retire from his role as CEO. González will transition to the position of executive chairman of the board of directors, effective July 1, 2024. He will be succeeded by Robert A. Michael, the current president and chief operating officer.
Under González’s leadership, AbbVie has seen remarkable growth, with a market valuation exceeding USD 250 billion, an annual patient base expansion to over 60 million people across 175 countries, and a significant investment of more than USD 60 billion in research and development (R&D). The company’s annual revenue has nearly tripled during his 11-year tenure.
Robert A. Michael, who has been with AbbVie since its inception, has played a pivotal role in the company’s financial planning, business strategy, and key acquisitions, including Allergan, ImmunoGen, and the pending acquisition of Cerevel Therapeutics. His appointment as CEO signals a continued commitment to AbbVie’s strategic direction and growth trajectory.
The transition marks a significant moment in AbbVie’s history, with the company preparing for future challenges and opportunities under new leadership.- Flcube.com
