Summary
Abbott Laboratories (ABT) has announced a significant leadership transition in its finance department. Effective February 29, 2020, Brian B. Yoor will retire as Executive Vice President, Finance and Chief Financial Officer. This change marks the end of Mr. Yoor's tenure, and the company has already appointed his successor. Robert E. Funck, Jr., a long-tenured employee with extensive experience within Abbott, has been appointed as the new Executive Vice President, Finance and Chief Financial Officer, effective March 1, 2020. Mr. Funck's comprehensive background, including roles in finance, controller, ethics and compliance, internal audit, and treasurer, positions him to seamlessly transition into this critical executive role. Investors can anticipate continuity in financial oversight and strategy under Mr. Funck's leadership.
Key Highlights
- 1Brian B. Yoor, Executive Vice President, Finance and Chief Financial Officer, to retire effective February 29, 2020.
- 2Robert E. Funck, Jr. appointed as the new Executive Vice President, Finance and Chief Financial Officer, effective March 1, 2020.
- 3Mr. Funck, 58, has a long-standing career at Abbott, having joined in 1987 and becoming a corporate officer in 2005.
- 4Mr. Funck has held various senior finance and leadership roles including Senior Vice President, Finance and Controller (since 2018) and Vice President, Controller (2013-2018).
- 5His prior experience also includes roles in Ethics & Compliance, Internal Audit, and Treasurer.
- 6Mr. Funck will receive compensation in line with Abbott's executive compensation plans, as detailed in the company's proxy statement.