Sally Blount
ABBOTT LABORATORIESAbout Sally E. Blount
Sally E. Blount, Ph.D., age 63, has served on Abbott’s Board since 2011. She is President and CEO of Catholic Charities of the Archdiocese of Chicago and a Michael L. Nemmers Professor of Strategy at Northwestern’s Kellogg School of Management, where she previously served as Dean (2010–2018). Her background combines senior academic leadership and governance expertise, with prior roles at NYU Stern (Dean of the Undergraduate College and Vice Dean) and faculty positions at NYU and the University of Chicago .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Northwestern Univ. Kellogg School of Management | Dean | 2010–2018 | Led one of the top global business schools; brings strategy and governance expertise to Abbott |
| NYU Stern School of Business | Dean, Undergraduate College; Vice Dean | 2004–2010 | Academic leadership in large, complex institution |
| NYU Stern School of Business | Professor (Abraham L. Gitlow Professor of Management) | 2001–2010 | Management and strategy expertise |
| University of Chicago Booth School | Academic posts | 1992–2001 | Early academic foundation in management |
External Roles
| Organization | Role | Tenure |
|---|---|---|
| Catholic Charities of the Archdiocese of Chicago | President and CEO | Aug 2020–Present |
| Northwestern Univ. Kellogg | Michael L. Nemmers Professor of Strategy | 2010–Present |
| Joyce Foundation | Director | Current (as disclosed) |
| Ulta Beauty, Inc. | Director (Public company) | 2017–2022 |
| Economic Club of Chicago | Director | 2017–2023 |
Board Governance
- Committee assignments: Nominations and Governance; Public Policy; not a chair .
- Independence: Determined independent under NYSE standards; Board concluded no material relationship impairs independence .
- Board attendance: Board held 8 meetings in 2024; average director attendance was 99%, and each director attended at least 75%; all directors attended the 2024 annual meeting .
- Committee activity: Nominations and Governance (4 meetings in 2024); Public Policy (4 meetings in 2024) .
- Executive sessions: Independent directors, led by the Lead Independent Director, hold executive sessions at each regularly scheduled Board meeting .
Fixed Compensation (Non‑Employee Director – 2024)
| Component | Amount ($) |
|---|---|
| Cash fees (retainer/committee) | 126,000 |
| Stock awards (annual RSU grant) | 199,892 |
| Option awards | 0 |
| Change in pension value / deferred comp earnings | 14,973 |
| All other compensation (charitable match) | 25,000 |
| Total | 365,865 |
Program mechanics: Non‑employee directors earn $10,500 per month in director fees; committee chair stipends apply but Blount is not a chair. Directors may elect cash, options in lieu of cash, or defer fees into a trust; charitable contributions eligible for up to $25,000 match annually .
Performance Compensation
| Item | Detail |
|---|---|
| Annual RSU grant (2024) | Vested RSUs valued at $200,000 (rounded down); 1,866 units (grant value determined by average of high/low market price on grant date) |
| Dividend equivalents | Cash payments equal to dividends on shares covered by RSUs, at shareholder rate |
| Payout terms | One common share delivered per RSU upon termination/retirement, death, or change in control |
| 2025 update | Annual director RSU grant value increased to $210,000 effective with the 2025 annual meeting |
| Options election | Directors can elect vested non‑qualified stock options in lieu of cash fees under the Fee Plan; Blount had no option awards in 2024 |
Note: Abbott’s director compensation is not tied to performance metrics; equity grants are time‑based RSUs with deferred share delivery. Hedging and pledging of Abbott shares is prohibited .
Other Directorships & Interlocks
| Company/Organization | Type | Role | Potential Interlock/Conflict |
|---|---|---|---|
| Ulta Beauty, Inc. | Public company | Former Director (2017–2022) | No direct competitive overlap with Abbott’s healthcare businesses; Abbott restricts directors from serving on competitor boards |
| Joyce Foundation | Non‑profit | Director | No identified related‑party transactions |
| Economic Club of Chicago | Non‑profit | Former Director (2017–2023) | Not a business counterparty to Abbott |
Expertise & Qualifications
- Senior leadership of large, complex organizations (business school dean; Catholic Charities CEO) .
- Expertise in business organization, strategy, governance, and management; academic credentials at Kellogg, NYU, University of Chicago .
- Aligns with Board’s desired skill mix (governance, strategy, operations) cited in Board highlights .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficially owned shares (as of Jan 31, 2025) | 35,023 (includes RSUs payable in stock upon retirement) |
| RSUs outstanding (as of Dec 31, 2024) | 32,423 |
| Stock equivalent units (Director Fee Plan) | 0 |
| Options exercisable within 60 days | 0 |
| Shares pledged as collateral | None (no directors/officers have pledged shares) |
| Ownership as % of shares outstanding | <1% (no director/officer >1%) |
| Ownership guideline | Directors must own ≥5× annual director fees within 5 years; all directors with ≥5 years tenure meet/exceed (Blount qualifies) |
Governance Assessment
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Strengths
- Independent director with deep governance and strategy expertise; long tenure since 2011 .
- Active on Nominations & Governance and Public Policy committees—key oversight over board composition, succession, sustainability, compliance, data/privacy, and product quality; both committees met 4× in 2024 .
- Strong engagement: Board average attendance 99%; all directors ≥75%; independent executive sessions every regular meeting enhance oversight .
- Ownership alignment: Significant RSU holdings, dividend equivalents; compliance with 5× fee guideline; no pledging permitted .
- Compensation practices reflect standard market structure for directors; no tax gross‑ups under executive program; consultant independence affirmed (Meridian for 2024) .
-
Potential conflicts / red flags
- Related‑person transaction: In 2024, an Abbott employee became Blount’s son‑in‑law, with total compensation above the $120,000 threshold requiring Nominations & Governance Committee review under Abbott’s policy; this is a monitorable conflict area though overseen by committee per chartered process .
- Time‑commitment considerations: External CEO role at Catholic Charities plus professorship; Abbott’s guidelines require pre‑clearance of new public company directorships and limit competitor boards; engagement/attendance disclosures mitigate concerns .
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Implications for investor confidence
- Committee placements in governance and public policy position Blount to influence board effectiveness, succession, and compliance—areas tied to risk oversight quality .
- The disclosed related‑person transaction warrants ongoing monitoring but is mitigated by formal review/approval processes and maintained independence determination .
- Ownership alignment and prohibited hedging/pledging support shareholder‑friendly posture .