Abbott names new CFO shortly ahead of CEO transition

abbott
Robert Funck Jr. first joined the company in 1987 and became a corporate officer in 2005; he has recently served as controller and senior vice president of finance. (Abbott)

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.

Virtual Roundtable

ASCO Explained: Expert predictions and takeaways from the world's biggest cancer meeting

Join FiercePharma for our ASCO pre- and post-show webinar series. We'll bring together a panel of experts to preview what to watch for at ASCO. Cancer experts will highlight closely watched data sets to be unveiled at the virtual meeting--and discuss how they could change prescribing patterns. Following the meeting, we’ll do a post-show wrap up to break down the biggest data that came out over the weekend, as well as the implications they could have for prescribers, patients and drugmakers.

RELATED: Longtime Abbott chief Miles White, designer of AbbVie spinoff, bows out of CEO job

Robert Funck (Abbott)

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.

Suggested Articles

The FDA named more than two dozen coronavirus antibody tests that should be taken off the market weeks after the agency clamped down on tests.

Inovio CEO J. Joseph Kim is undeterred by short sellers and other detractors who doubt his company can shuttle a COVID-19 DNA vaccine to market.

The machine-learning programs scroll through data to detect hard-to-spot patterns. Yet few have been tested against standard procedures.