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Executive Summary

ABBOTT ELEVATES THOMAS HODGSON TO PRESIDENT and chief operating officer, reporting to Chairman and CEO Duane Burnham, 49, the company announced Sept. 17. The promotion is effective Oct. 1. Hodgson, 48, an 18-year veteran at Abbott, is currently president of Abbott International and a corporate exec VP. The promotion of Hodgson effectively fills a vacancy in the number two spot at Abbott that has been open since the resignation of Jack Schuler in August 1989. Schuler's sudden resignation was reportedly due to differences with then-Chairman and CEO Robert Schoellhorn. However, in the spring, Schoellhorn was ousted by the Abbott board and replaced by Burnham. In his new position, Hodgson will be responsible "for all operating divisions of Abbott as well as corporate engineering, corporate hospital marketing, and the company's joint venture with Takeda Chemical, TAP Pharmaceuticals," a company press release notes. Although Hodgson has some experience with pharmaceuticals from his tenure at Abbott International, he rose through the ranks at the company in the hospital products area. Hodgson joined Abbott in 1972 from the consulting firm Booz Allen as assistant to the president. He was named director of supply product and new business development, hospital products division, in June 1973. He became general manager at Abbott's Faultless Rubber Co. in 1976 and, in 1978, was named divisional VP and general manager-hospital products division. In 1980, he was named corporate VP-hospital products and president-hospital products division. He was promoted to group VP and president-Abbott International in 1983. In early 1985, Hodgson became a corporate exec VP and was elected to the Abbott board. He earned his undergraduate degree at Purdue and holds an MSE degree from the University of Michigan and an MBA from Harvard. Also named to new positions effective Oct. 1 were: Paul Clark, to senior VP-pharmaceutical operations; John Kane, to senior VP-Ross Labs products; John Kringel, to senior VP-hospital products; Duncan McIntyre, to senior VP-Abbott Labs and president-Abbott International; Thomas McNally, to senior VP-chemical and agricultural products; and David Thompson, to senior VP-diagnostic operations.

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