Wall Street is telling the BoD: REMOVE MILES WHITE. ASAP.
Yes. Miles White has run Diagnostics Division into ground (remember Consent Decree) and now he's doing a number on the whole company.
The only true positive of his disgraceful chairmanship was the appointment of the distinguished, visionary Professor of Medicine from University of Chicago as Miles's second in command. His name if you recall, was Jeff Leiden, M.D. Leiden should be credited with stent effort and of course, without any question, it is to Leiden's credit that ABT acquired Knoll and human monoclonal antibody technology which resulted in adalimumab (Humira).
So what happened to Jeff Leiden M.D. you may ask?
Well do your own DD and draw your own conclusion. He's no longer at ABT, that's for sure.
I do recall the ( rather abrupt ) departure of Dr. Leiden several years ago. As your post indicated, the former COO is now with a vc shop in Cambridge ( hear, hear -- good for him ).
The reason for Dr. Leiden's departure, in retrospect, was likely rather obvious: White realized ( and also must have come to the conclusion that if he did, others clearly did also ) that the subordinate operating executive had far more competence and vision than the chief executive. Ergo, the doctor had to go -- or make it so unpalatable to stay with the company, precipitate a resignation.
Stat, the votes are in institutional hands. Only they can affect board and/or CEO-level change; retail investors have little recourse but to post inane theories on Yahoo! pertaining to "stock manipulation" and watch their thousands turn into hundreds, at the hands of Miles White.