For the first time since its 2004 spin-off from Abbott Laboratories (NYSE:ABT), Hospira (NYSE:HSP) has named a new chief executive.
Current Allergan (NYSE:AGN) president Mike Ball has been appointed as Hospira's chief executive and member of the board effective March 28.
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“I am deeply honored and excited to join Hospira's 14,000 employees in advancing our shared passion to increase patient and caregiver safety and productivity, reduce the high costs of healthcare, and provide the highest quality products that address critical unmet needs around the globe,” Ball said.
The new chief executive joins the drug maker after 16 years with Allergan, a global healthcare company. During his tenure there, Ball was responsible for accelerating growth in international markets and executing global commercial activities.
Ball, 55, is succeeding the Lake Forest, Ill.-based company’s founding head, Chris Begley, who will now serve as executive chairman, responsible for ensuring an orderly transition.