Miles D. White

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

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

Biography[edit]

Early life[edit]

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

Career[edit]

He 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 January 1999, and to Chairman of the Board in April 1999.[1][2][3]

He sat on the Board of Directors of Motorola Solutions from October 1, 2005 to May 2009.[1] He currently serves on the Board of Directors of McDonald's, Caterpillar Inc., Northwestern Memorial Hospital and MediSense.[1][2] 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 Chairman of the Civic Committee of the Commercial Club of Chicago, an anti-labor union organization in Chicago.[4]

He serves on the Board of Trustees of the Field Museum of Natural History, of which he is immediate past chair, and sits on the boards of the Museum of Science and Industry in Chicago, the Joffrey Ballet, and the Lyric Opera of Chicago.[1][5][6] He sits on the Dean's Advisory Board at Kellogg School of Management and the Culver Educational Foundation, and is on the Board of Trustees of Northwestern University as well as the International Advisory Council of the Guanghua School of Management at Peking University.[1][2] He also serves on the Advisory Council of the Stanford Graduate School of Business and the Stanford Advisory Council on Interdisciplinary Biosciences.[1]

In 2007, he had the highest total compensation of all CEOs in the Chicago metropolitan area.[7] 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.[8] 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 and Executive of the Year by Scrip. In April 2011, White was elected to the American Academy of Arts and Sciences.

References[edit]

  1. ^ a b c d e f g h i j k l m Bloomberg BusinessWeek
  2. ^ a b c d e f Abbott Laboratories biography
  3. ^ a b c Forbes 2012 compensation
  4. ^ Commercial Club of Chicago
  5. ^ Field Museum Board of Trustees
  6. ^ Museum of Science and Industry Board of Trustees
  7. ^ Carmichael, Matthew (2008-05-26). "Crain's List: The Fortunate 100". Crain's Chicago Business (Crain Communications Inc.). pp. 23–28. 
  8. ^ 2008 CEO Compensation for Miles D. White, Equilar.com