The Audit Committee assists the board of directors in fulfilling its oversight responsibility with respect to:
- Abbott's accounting and financial reporting practices and the audit process
- The quality and integrity of Abbott's financial statements
- The independent auditors' qualifications, independence and performance
- The performance of Abbott's internal audit function and internal auditors
- Certain areas of legal and regulatory compliance
- Abbott's enterprise risk management
- Each of the members of the Audit Committee is financially literate, as required of audit committee members by the New York Stock Exchange. The board of directors has determined that N. McKinstry is an “audit committee financial expert.”
Members
N. MCKINSTRY, CHAIR
C. BABINEAUX-FONTENOT
P. GONZALEZ
M.A. KUMBIER
J.G. STRATTON
Compensation Committee
The Compensation Committee assists the board of directors in carrying out the responsibilities of the board relating to the compensation of Abbott's executive officers and directors by discharging the responsibilities set forth in its charter.
Members
D.J. STARKS, CHAIR
M.A. KUMBIER
N. MCKINSTRY
M.G. O’GRADY
M.F. ROMAN
Executive Committee
The Executive Committee may exercise all the authority of the board in the management of Abbott, except for matters expressly reserved by law for board action.
Members
R.B. FORD, CHAIR
N. MCKINSTRY
M.F. ROMAN
D.J. STARKS
J.G. STRATTON
The Nominations and Governance Committee
The Nominations and Governance Committee:
- Assist the Board in identifying individuals qualified to become Board members, and recommend to the Board the nominees for election as directors at the next annual meeting of shareholders.
- Recommend to the Board the persons to be elected as officers of Abbott.
- Develop and recommend to the Board the corporate governance guidelines applicable to Abbott.
- Serve in an advisory capacity to the Board and Chairman of the Board on matters of organization, management succession plans, major changes in the organizational structure of Abbott and the conduct of Board activities
Members
J.G. STRATTON, CHAIR
R.J. ALPERN
S.E. BLOUNT
P. GONZALEZ
D.W. MCDEW
M.G. O'GRADY
Public Policy Committee
The Public Policy Committee assists the board of directors in fulfilling its oversight responsibility with respect to Abbott’s public policy, certain areas of legal and regulatory compliance, governmental affairs, and healthcare and other compliance issues that affect Abbott by discharging the responsibilities set forth in its charter.
Members
M.F. ROMAN, CHAIR
R.J. ALPERN
C. BABINEAUX-FONTENOT
S.E. BLOUNT
D.W. MCDEW
D.J. STARKS
