Divorce Abbott style
Executive Summary
Ex-Abbott Chairman Robert Schoellhorn is suing his former employer in Cook County Circuit Court to reverse his dismissal. The firm has accelerated the schedule for the change-in-command to Duane Burnham. Named president in early December, Burnham was elevated to chairman on March 9. He was supposed to take over that job from Schoellhorn in August. Schoellhorn is also being removed from the board. Acrimony has surrounded Schoellhorn's executive reign during the last decade. His departure amidst a corporate feud may be fitting given the executive in-fighting during his tenure, but it is not a graceful ending to a period of great growth for the company during his 16-year career.
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Ex-Abbott Chairman Robert Schoellhorn is suing his former employer
in Cook County Circuit Court to reverse his dismissal. The firm has
accelerated the schedule for the change-in-command to Duane
Burnham. Named president in early December, Burnham was elevated to
chairman on March 9. He was supposed to take over that job from
Schoellhorn in August. Schoellhorn is also being removed from the
board. Acrimony has surrounded Schoellhorn's executive reign during
the last decade. His departure amidst a corporate feud may be
fitting given the executive in-fighting during his tenure, but it
is not a graceful ending to a period of great growth for the
company during his 16-year career. |