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AbbVie picks successor for founding CEO

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Chicago-based pharmaceutical company AbbVie Inc. has selected a new leader to succeed founding CEO Richard Gonzalez.

Gonzalez is slated to exit the CEO role on July 1, and he's moving into the executive board chair position. He's been CEO since the company’s formation in 2013.

Robert Michael, the company’s president and chief operating officer, is becoming CEO.

Read more from MarketWatch.

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