Miles D. White

This article is about the Abbott Laboratories executive. For the Broadway costume designer, see Miles White.

Miles D. White (born 1955) is an American businessman.[1] He currently serves as Chairman and Chief Executive Officer of Abbott Laboratories.[1][2][3]

Biography

Early life

Miles White was born in Minneapolis, Minnesota. He holds two degrees from Stanford University, a bachelor's degree in mechanical engineering and an MBA.[1][2][3]

Career

White started his career as a consultant at McKinsey & Co..[1] He joined Abbott in 1984, serving there in management positions including senior vice president of diagnostic operations and executive vice president.[1] He was elected to the Board of Directors in April 1998, to Chief Executive Officer in 1998, and to Chairman of the Board in April 1999.[1][2][3]

Since White became CEO of Abbott, the company has settled several healthcare fraud and marketing cases with the federal government. The fines and settlements have cost the company hundreds of millions of dollars.[4]

White currently serves on the Board of Directors of McDonald's and Caterpillar Inc. He also serves on the Board of Investors of Merrick Ventures.[1] He is former Chairman of the Federal Reserve Bank of Chicago, the Economic Club of Chicago and the Pharmaceutical Research and Manufacturers of America.[1][2] He is former Chairman of the Civic Committee of the Commercial Club of Chicago, an anti-labor union organization in Chicago.[5]

White was formerly Chairman of the Board of Trustees of the Field Museum of Natural History, and sits on the board of the Lyric Opera of Chicago. He serves on the Global Advisory Board at the Kellogg School of Management and is the Chairman of the Board of Trustees of the Culver Educational Foundation, and is on the Board of Trustees of Northwestern University as well as on the Board of the US-China Business Council. He is a member of the Business Council and the Business Roundtable and a fellow of the American Academy of Arts and Sciences.

In 2007, White had the highest total compensation of all CEOs in the Chicago metropolitan area.[6] While CEO of Abbott Laboratories in 2008, he earned a total compensation of $25,104,085, which included a base salary of $1,795,471, a cash bonus of $4,200,000, stocks granted of $7,499,925, and options granted of $10,757,796.[7] He has been listed in Forbes' list of America's Most Powerful People and recognized as one of the world's 30 Best CEO's by Barron's for seven consecutive years and Executive of the Year by Scrip.

References

  1. 1 2 3 4 5 6 7 8 Bloomberg BusinessWeek
  2. 1 2 3 4 Abbott Laboratories biography
  3. 1 2 3 Forbes 2012 compensation
  4. ↑
  5. ↑ Commercial Club of Chicago
  6. ↑ Carmichael, Matthew (2008-05-26). "Crain's List: The Fortunate 100". Crain's Chicago Business. Crain Communications Inc. pp. 23–28.
  7. ↑ 2008 CEO Compensation for Miles D. White, Equilar.com
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