President Quits Company, Cites ‘Differences of Philosophy’
CHICAGO (AP) _ Jack W. Schuler, Abbott Laboratories’ president, has resigned from the giant pharmaceuticals company, citing ″differences in philosophy″ with the company’s chairman, officials said Monday.
Schuler stepped down Friday from his posts as Abbott’s chief operating officer and a member of the board, said company spokesman Dick Hamilton. The resignation was effective immediately.
″There were differences in philosophy. That’s it,″ Hamilton said in a telephone interview. ″I can’t elaborate.″
Abbott Chairman Robert Schoellhorn assumed the additional post of president for an undetermined period of time, Hamilton said.
Schoellhorn served as the company’s president and chief operating officer from 1985 through 1987, when Schuler was named to the post.
G. Kirk Rabb resigned as Abbott’s chief operating officer in 1985, and James Vincent left the post five years earlier, said spokeswoman Ellen Walvoord. She would not say what reasons they had given for leaving the company.
Schuler had been with Abbott for 17 years in various positions.
He left Texas Instruments in 1972 to become director of sales and marketing for Abbott’s diagnostics division, and worked his way up to executive vice president before he was made president in January 1987, Hamilton said.
Abbott Labs is a worldwide manufacturer of health care products, with 1988 sales of $4.9 billion. The company’s worldwide diagnostic-products sales total an estimated $500 million.
The company in 1985 marketed the first AIDS blood screening test to be approved by the government.