Robert B. Ford
Also at Abbott Laboratories
About
Robert B. Ford is the current Chairman of the Board and Chief Executive Officer at Abbott Laboratories, serving in this role since 2021. His leadership at the company is marked by a steady progression through increasingly responsible positions, showcasing his deep commitment to the growth and innovation at Abbott Laboratories.
His professional journey began in 2008 when he was elected as a corporate officer. Over the years, he has held several key roles, progressing from Executive Vice President of Medical Devices between 2015 and 2018 to President and Chief Operating Officer from 2018 to 2020, and then transitioning to the combined role of President and CEO during 2020-2021.
At 51 years old as of February 21, 2025 , his career reflects a blend of long-standing experience and dynamic leadership. While detailed personal background and education information are not provided, his professional tenure at Abbott Laboratories highlights a record of sustained development and strategic decision-making.
This overview captures the essence of a leader who has not only advanced through multiple executive levels within the company but also played a key role during significant transitions in Abbott Laboratories’ recent history.
$ABT Performance Under Robert B. Ford
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Abbott Laboratories | President and Chief Executive Officer | March 2020 - December 2021 | Held before becoming Chairman and CEO |
| Abbott Laboratories | President and Chief Operating Officer | 2018 - 2020 | Held prior to promotion |
| Abbott Laboratories | Executive Vice President, Medical Devices | 2015 - 2018 | |
| Abbott Laboratories | Senior Vice President, Diabetes Care | 2014 - 2015 | |
| Abbott Laboratories | Various leadership roles in Diagnostics, Nutrition, and Diabetes Care | Since 1996 | Held roles across the U.S. and Latin America |
| Abbott Laboratories | Elected Corporate Officer | Since 2008 | Became an elected officer |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Salary | $1,500,000 | Annual (2023) | Fixed base salary |
| Employer Contributions to Defined Contribution Plans | $75,000 | Annual (2023) | Contributions to the defined contribution plans |
| Earnings on Non-Qualified Defined Contribution Plans (net of reportable interest) | $153,521 | Annual (2023) | Net earnings on non-qualified contributions |
| Other Compensation (unspecified components) | $208,392 | Annual (2023) | Represents remaining components of "All Other Compensation" |
Performance Compensation
Stock Awards for 2023
| Detail | Value | Citation |
|---|---|---|
| Grant Date | February 17, 2023 | |
| Grant Date Fair Value | $7,436,600 | |
| Number of Shares | 70,008 shares | |
| Vesting Schedule | 1/3 vesting per year over a 3-year term; 1/3 vested on February 29, 2024 | |
| Conditions | Vesting tied to a minimum return on equity target; full vest on death/disability |
Option Awards for 2023
| Detail | Value | Citation |
|---|---|---|
| Grant Date | February 17, 2023 | |
| Grant Date Fair Value | $7,437,649 | |
| Number of Options Granted | 276,082 | |
| Exercise Price | $106.24 | |
| Closing Market Price on Grant Date | $106.74 | |
| Vesting Schedule | 1/3 after 1 year, 2/3 after 2 years, fully after 3 years | |
| Conditions | Time-based vesting; full vest on death/disability; subject to change in control provisions |
Non-Equity Incentive Plan Compensation for 2023
| Metric (Unit) | Weight | Threshold | Target | Maximum | Actual | Score (%) | Citation |
|---|---|---|---|---|---|---|---|
| Adjusted Sales (B USD) | 25% | $40.00B | $40.24B | $40.50B | $40.44B | 34.5% | |
| Adjusted Diluted EPS (USD) | 25% | $4.30 | $4.40 | $4.50 | $4.44 | 30.0% | |
| Adjusted ROA (%) | 10% | 13.3% | 13.5% | 13.9% | 13.7% | 12.5% | |
| Free Cash Flow (B USD) | 10% | $4.8B | $5.0B | $5.2B | $5.1B | 11.5% | |
| Diabetes Care Sales Growth (%) | 10% | 17.5% | 20.1% | 22.5% | 21.9% | 13.7% | |
| Key Cardiometabolic Product Sales Growth (%) | 10% | 80.4% of Target | Target | 120.0% of Target | Not Achieved | 0% | |
| Human Capital Metrics | 10% | Meet targets | Achieved | Achieved | Achieved | 10.0% |
- Total Goal Score: 112.20%
- Bonus Payout Calculation: Base Salary $1,500,000 × Bonus Target of 175% × Total Goal Score 112.20% = $2,945,250
- Evaluation Period: Performance assessed for 2023; payout processed in February 2024
This comprehensive breakdown covers all performance-based elements for 2023 with precise metrics, targets, thresholds, vesting schedules, and payout details.