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ABBOTT MOVING EXEC VP JACK SCHULER TO PRESIDENT AND CHIEF OPERATING

Executive Summary

ABBOTT MOVING EXEC VP JACK SCHULER TO PRESIDENT AND CHIEF OPERATING officer, the company announced in a recent press release. At the same time, another of the company's four exec VPs, Duane Burnham, will become vice chairman. Both appointments to the newly created positions are effective Jan. 1, according to the release. "Mr. Schuler will be responsible for all Abbott domestic and international business units including diagnostics, hospital, pharmaceutical, chemical and agricultural and Ross nutritional products," Abbott Chairman and Chief Exec Robert Schoellhorn said. "In addition to his continuing role of chief financial officer, Mr. Burnham will be responsible for corporate administration, corporate planning and development, management information services, treasury operations, corporate engineering, controllership and taxes." Both positions will report directly to Schoellhorn. An Abbott employee since 1972, Schuler, 46, became president of the firm's diagnostic division in 1976 and a member of the Abbott board in 1985. He is credited as the driving force behind the company's entry into and emphasis on the rapidly growing immunodiagnostics segment of the market. In its annual report for 1985, Abbott predicted that the $1.4 bil. immunodiagnostics market would continue to grow at a compound annual rate of 13%, reaching $2.5 bil. in 1990. At that time, the company expects immunodiagnostics to account for more than 35% of all clinical laboratory testing. Burnham, 44, joined Abbott in 1982 as senior VP-finance and chief financial officer. Previously, he was chief executive officer of Bunker Ramo, a defense contractor. In 1985, Burnham was promoted to exec VP, responsible for the company's Ross Labs and corporate engineering divisions. Shortly thereafter, he was elected to the Abbott board. The release notes that in addition to Burnham and Schuler, Abbott units continuing to report to Schoellhorn are the corporate personnel, legal and public affairs divisions as well as TAP Pharmaceuticals, the firm's joint venture with Takeda.
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