Summary
Abbott Laboratories (ABT) filed an 8-K on July 7, 2017, to announce a key leadership change within its Medical Devices segment. Michael Rousseau, President of the Cardiovascular and Neuromodulation business, is departing the company following the completion of his planned transition period. This move comes as Abbott continues to integrate St. Jude Medical, Inc., which it acquired in January 2017. Investors should note that this is a planned departure and follows the successful integration of the acquired entity.
Key Highlights
- 1Michael Rousseau, President of Cardiovascular and Neuromodulation, is leaving Abbott.
- 2Rousseau's departure is effective July 7, 2017, after completing his transition period.
- 3The departure is related to the ongoing integration of St. Jude Medical, Inc.
- 4Robert Ford, Executive Vice President of Medical Devices, will assume leadership of the Cardiovascular and Neuromodulation business.
- 5Ford's responsibilities will now encompass Vascular, Structural Heart, and Diabetes Care businesses in addition to the newly acquired businesses.
- 6This change indicates a consolidation of leadership within Abbott's key medical device divisions.