8-KLeadership Changes

ABBOTT LABORATORIES 8-K Report, Executive Changes (Jul 13, 2012)

Filed July 13, 2012For Securities:ABT

Summary

Abbott Laboratories (ABT) has filed an 8-K report detailing a significant executive change. Greg W. Linder, the current Vice President and Controller, has announced his retirement, which will be effective February 28, 2013. This marks the end of a long tenure for Mr. Linder with the company. Following Mr. Linder's retirement, Robert E. Funck will assume the role of Vice President and Controller, effective March 1, 2013. Mr. Funck brings extensive experience within Abbott, having held various senior financial and compliance positions since joining in 1987, most recently as Vice President, Chief Ethics and Compliance Officer. This transition indicates a well-planned succession for a key financial role within the organization.

Key Highlights

  • 1Greg W. Linder, Vice President and Controller, announced his retirement effective February 28, 2013.
  • 2Robert E. Funck appointed as the new Vice President and Controller, effective March 1, 2013.
  • 3Mr. Funck has a long history with Abbott, joining in 1987 and holding various senior financial and compliance roles.
  • 4Mr. Funck's prior roles include Vice President, Chief Ethics and Compliance Officer (since 2009), Vice President, Internal Audit (2007-2009), and Vice President and Treasurer (2005-2007).
  • 5Mr. Funck became a corporate officer in 2005.
  • 6The filing indicates a planned leadership transition in a key financial executive position.

Frequently Asked Questions

Greg W. Linder, Vice President and Controller, is retiring from Abbott Laboratories. His retirement is effective February 28, 2013.

Robert E. Funck has been appointed as the new Vice President and Controller. His appointment is effective March 1, 2013.

Robert E. Funck has a long tenure at Abbott, having joined in 1987. He has held several senior positions, including Vice President, Chief Ethics and Compliance Officer (since 2009), Vice President, Internal Audit (2007-2009), and Vice President and Treasurer (2005-2007). He became a corporate officer in 2005.

This 8-K filing only announces the executive transition. While a change in Controller can be significant, the filing does not provide information suggesting any immediate impact on financial reporting or ongoing operations. The appointment of Mr. Funck, given his extensive experience within the company's financial and compliance functions, suggests a smooth transition.