Richard Gonzalez, AbbVie's CEO since its 2013 spin-off from Abbott, retired on July 1, 2024, after 11 years.
Robert Michael, current President and COO, succeeded Gonzalez as CEO on July 1, 2024, and joined the board.
Gonzalez transitioned to executive chairman role post-retirement.
Under Gonzalez, AbbVie's market cap grew from $54 billion to over $300 billion, with key acquisitions like Allergan and Pharmacyclics.
The transition followed navigation of Humira's U.S. biosimilar competition, with newer drugs like Skyrizi and Rinvoq driving growth.
Gonzalez praised Michael's contributions to financial planning, business strategy, and Humira exclusivity end.