Abbott CEO Miles White will step down from his post at the end of March, the company announced Wednesday.
White, who had the job for 21 years, will be succeeded by Robert Ford, a 23-year Abbott veteran.
The promotion comes little over a year after Ford was elevated to president and chief operating officer.
White will become executive chairman of the north suburban medical technology company company’s board of directors.
“Miles will step down as CEO at a time the company is the strongest it has ever been,” the company said in a statement. “We are set to deliver sustainable top-tier growth, have an outstanding portfolio and pipeline of technologies and a talented and proven management team.”
The company was founded by Wallace Abbott, who began operating his laboratory out of the basement of his Ravenswood home more than a century ago.
