AbbVie Appoints Roxanne S. Austin as Lead Independent Director of the Board of Directors

PRNewswire 20-Jun-2024 8:00 AM

• Ms. Austin assumes role from Glenn F. Tilton, who will continue to serve as an independent director

NORTH CHICAGO, Ill., June 20, 2024 /PRNewswire/ -- AbbVie (NYSE:ABBV) today announced that the independent directors of the board have selected Roxanne S. Austin as lead independent director, effective July 1, 2024. Ms. Austin succeeds Glenn F. Tilton, who has served as lead independent director since 2013. Mr. Tilton will continue to serve on the AbbVie Board as an independent director.

"One of AbbVie's greatest strengths is an experienced, diverse and highly independent Board of Directors committed to the highest standards of corporate governance," said Richard A. Gonzalez, chairman and chief executive officer, AbbVie. "The appointment of Roxanne as lead independent director reflects a thorough and deliberate process by the independent directors of the Board, who strongly believe that her experience and leadership ability make her highly qualified to lead the AbbVie Board. Roxanne has provided keen insights and guidance as an independent director since joining the Board in 2013. I'm delighted that she will bring her expertise to us in this role, especially as we make the important transition in executive leadership when Rob Michael assumes the role of AbbVie's CEO on July 1."

"I've always valued Glenn's counsel and leadership as lead independent director," continued Mr. Gonzalez. "Glenn has made immeasurable contributions to our strategy, financial success and corporate governance, and his presence in AbbVie's boardroom has clearly elevated all of us. I look forward to continuing to work alongside him."

"The independent directors of AbbVie were unanimous in their support for Roxanne as the new lead independent director of the Board," commented Mr. Tilton. "She will provide thoughtful strategic leadership to the company and will work diligently to ensure AbbVie continues to deliver results to all our stakeholders with passion and integrity. It has been extremely rewarding to serve as the lead independent director at AbbVie for the past 11 years. I am excited for the company's future and am pleased to continue working with Roxanne, Rick, Rob and the rest of AbbVie's Board to build on the company's success."

"I am honored to have received the support of AbbVie's Board in this important role, and I am excited to partner with the Board and management team as we embark on this important next phase in AbbVie's growth," said Ms. Austin. "I would like to thank Glenn for his invaluable guidance as an independent director for many years. His leadership has been marked by integrity, intelligence and determination, and AbbVie will benefit tremendously by his continued service on the Board."

About Roxanne S. Austin

Ms. Austin is president of Austin Investment Advisors, a private investment and consulting firm. She chaired the U.S. Mid-market Investment Advisory Committee of EQT Partners from 2017 to 2023. Previously, Ms. Austin also served as the president and chief executive officer of Move Networks, Inc., a provider of Internet television services. Ms. Austin served as president and chief operating officer of DIRECTV, Inc. Ms. Austin also served as executive vice president and chief financial officer of Hughes Electronics Corporation and as a partner of Deloitte & Touche LLP. Ms. Austin is also a director of Crowdstrike, Inc., Freshworks, Inc., and Verizon Communications Inc. Ms. Austin previously served as a director of Abbott Laboratories from 2000 to 2022, Teledyne Technologies, Inc. from 2006 to 2021, Target Corporation from 2002 to 2020, and Telefonaktiebolaget LM Ericsson from 2008 to 2016.

About AbbVie

AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas – immunology, oncology, neuroscience and eye care – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on LinkedIn, Facebook, Instagram, X (formerly Twitter) and YouTube. 

AbbVie Forward-Looking Statements

Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2023 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its subsequent Quarterly Reports on Form 10-Q. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.

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SOURCE AbbVie