Abbott Laboratories

Abbott Laboratories elects Thomas C. Freyman Senior Vice President, Finance and Chief Financial Officer

    Abbott Park, Illinois (ots-PRNewswire) - Abbott Laboratories today announced that Thomas C. Freyman has been elected senior vice president, finance and chief financial officer by the board of directors of Abbott Laboratories effective April 1, 2001. Freyman has been vice president, hospital products controller at Abbott.

    Freyman, 46, succeeds Gary P. Coughlan, who will retire on March 31, 2001. Coughlan has served as senior vice president, finance and chief financial officer since joining the company in May 1990.

    "Tom is a highly regarded 22-year Abbott veteran with broad experience in international finance, treasury and the controller function," Miles D. White, chairman and chief executive officer, said. "We are extremely pleased to have strong internal talent to ensure a smooth transition for this critical position."

    Freyman holds a bachelor's degree in accounting from the University of Illinois and a master's degree in management from Northwestern University's Kellogg Graduate School of Management.

    Freyman is a member of the American Institute of Certified Public Accountants and of the board of directors of Victory/St. Therese Enterprises, Inc., United Way of Lake County, and the University of Illinois Business Advisory Council.

    In commenting on Coughlan's retirement, White said, "Gary has made significant contributions to the growth and success of Abbott. He has been instrumental in supporting Abbott's long tradition of financial stability and our more aggressive approach to external collaborations. He has led our e-commerce initiatives and developed a depth of leadership talent in finance and the other organisations he oversees. We thank him for his strong leadership and wish him the best in his retirement."

    Abbott Laboratories is a global, diversified health care company devoted to the discovery, development, manufacture and marketing of pharmaceutical, diagnostic, nutritional and hospital products. The company employs 60,000 people and markets its products in more than 130 countries. In 2000, the company's sales and net earnings were $13.7 billion and $2.8 billion, respectively, with diluted earnings per share of $1.78.

    Abbott's news releases and other information are available on the company's Web site at

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