Abbott Names New Chief

Abbott (ABT Quote - Cramer on ABT - Stock Picks) said Jeffrey M. Leiden, president and chief operating officer of its pharmaceutical products group, will leave to pursue other career interests.

The Abbott Park, Ill., pharmaceuticals giant said Richard A. Gonzalez, the president and chief operating officer of its medical products group, will take over as president and chief operating officer for Abbott.

"Jeff has made significant contributions to our Pharmaceutical Products Group and we wish him well in his new endeavors," said CEO Miles D. White.

On Tuesday, Abbott fell 31 cents to $43.94.