AbbVie taps Robert Michael to replace Gonzalez as CEO in July

Feb 20 (Reuters) – AbbVie (ABBV.N) on Tuesday said Chief Operating Officer Robert Michael would succeed Richard Gonzalez to become the second-ever CEO of the drugmaker on July 1.

Gonzalez, 70, who has been at the company’s helm since it was formed through a spin-off from Abbott (ABT.N) in 2013, will become executive chairman of AbbVie’s board once he steps down.

Guggenheim analyst Vamil Divan said in a note that the timing made sense after the company announced it was buying ImmunoGen and Cerevel (CERE.O), delivered better-than-expected results in 2023, and updated its longer-term forecast.