Abbott appoints Philip Boudreau as new CFO

Abbott announced today that it made a series of personnel changes, including the appointment of a new chief financial officer.

Effective Sept. 1, 2023, the company appointed Philip Boudreau as SVP, finance, and chief financial officer (CFO). He reports to Robert Funck, whose appointment as EVP, finance, goes into effect the same day. Funck previously held the CFO position. Additionally, Abbott named John McCoy, Jr., VP, controller, effective Sept. 1, according to an SEC filing.

Funck joined Abbott in 1989 and served as a corporate officer starting in 2005. He held the role of SVP of finance and controller before his 2020 appointment to the CFO position. He replaced the retiring Brian Yoor amid a number of changes when Robert Ford took over for outgoing CEO Miles White in early 2020.

Boudreau became Abbott’s VP, controller in 2020 and served in that role since. Before that, he held the position of divisional VP, controller, medical devices, from 2017 to 2020. From 2012 to 2017, Boudreau served as divisional VP, controller and commercial support, point of care diagnostics.

He initially joined Abbott in 1997 and worked across various finance positions in Abbott’s diagnostics, diabetes and nutrition businesses. Abbott disclosed that his base salary totals $600,000 and his target annual bonus opportunity will be 90% of his base salary.

McCoy, meanwhile, has been Abbott’s VP, treasurer since 2021. He served as divisional VP, controller, rapid diagnostics from 2018 to 2021. McCoy also held the position of divisional VP, financial shared services, from 2017 to 2018. Before joining Abbott in 2017, he served as SVP and corporate controller at Baxalta. MassDevice