LAKE FOREST, Ill. Hospira chairman and CEO Chris Begley will retire from his CEO position, Hospira said Friday.
Begley will retain his position as executive chairman while the company searches for a new CEO. He founded the company in 2004 when it broke off from Abbott Labs.
“Launching Hospira as an independent company has been the most rewarding experience of my three decades in health care, and I’ve been extremely privileged to work with such a talented and dedicated team of employees to advance wellness for our stakeholders around the globe,” Begley stated. “Over the last six years, we have transformed this company from one of declining sales and margins to strong growth and profitability, and the time is right for a new CEO to lead Hospira on its patient-focused journey to sustainable, top-tier performance.”