Not long after elevating a company veteran to be its next CEO, Abbott Laboratories has now done the same within its financial leadership.
The medtech manufacturer’s current chief financial officer and executive vice president of finance, Brian Yoor, announced plans to retire at the end of February, according to a company filing with the Securities and Exchange Commission (SEC). Taking his place March 1 will be Robert Funck Jr., who has been Abbott’s senior VP of finance and controller since February 2018.
This change will serve as a short prelude before President and Chief Operating Officer Robert Ford takes the reins as CEO, starting April 1, from longtime chief Miles White—who announced his own plans to retire last November after serving as chairman and CEO since 1999.
Yoor joined Abbott in 1997 and has held various financial management positions, including controller of its pharmaceutical, nutrition and diagnostic business operations. He was named CFO in June 2015 and an executive VP in February 2017. Yoor also serves on the board of the Clara Abbott Foundation.
Funck, meanwhile, first joined the company in 1987 and became a corporate officer in 2005; he has served as VP of internal audits and treasurer as well as a divisional VP of Abbott’s former pharmaceutical business.
More recently, Funck was controller from 2013 to 2018 and chief ethics and compliance officer before that, from 2009 to 2013. Abbott did not disclose who will be taking Funck’s place as controller in its SEC filing.