Abbott Laboratories is opting to reshuffle executive responsibilities rather than filling its No. 2 management slot. The COO title will disappear when current COO Richard Gonzalez retires next month. Instead of hiring a new COO, the chiefs of the company's four top operating units--medical devices, pharmaceuticals, nutritionals and diagnostics--will report directly to Abbott CEO Miles White.
The company's division head for pharma will be new to the reins, too. Executive Vice President James Tyree is replacing Abbott veteran Bill Dempsey, who's also retiring, in that post.
- read the report from The Chicago Tribune
Abbott deal puts focus squarely on pharma. Report