Company: ABBV
Filing Date: 2025-03-24
Form Type: DEF 14A
Source: 0001558370-25-003537
Chunk: 12

Company: AbbVie Inc.
Filing Date: 2025-03-24
Form: DEF 14A
Chunk 12
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| THE BOARD OF DIRECTORS AND ITS COMMITTEES | ​ |

THE BOARD OF DIRECTORS AND ITS COMMITTEES The Board of Directors held seven meetings in 2024. The average attendance of all directors at Board and committee meetings in 2024 was 96% percent, and each director attended at least 75% of the total number of Board meetings and meetings of the committees of which they served. AbbVie encourages its Board members to attend the annual stockholder meeting. All of AbbVie’s directors attended the 2024 annual stockholder meeting. The Board has determined that each of the following individuals is independent in accordance with the New York Stock Exchange (NYSE) listing standards: Dr. Alpern, Ms. Austin, Mr. Burnside, Ms. Davis, Mr. Freyman, Mr. Hart, Ms. Meyer, Dr. Quaggin, Mr. Rapp, Ms. Roberts, Mr. Tilton, and Mr. Waddell. To determine independence, the Board applied the AbbVie Inc. director independence guidelines. The Board also considered whether a director has any other material relationships with AbbVie or its subsidiaries and concluded that none of these directors had a relationship that impaired the director’s independence. This included consideration of the fact that some of the directors are officers or serve on boards of companies or entities to which AbbVie sold products or made contributions or from which AbbVie purchased products and services during the year. In making its determination, the Board relied on both information provided by the directors and information developed internally by AbbVie. As announced on February 20, 2024, the Board unanimously selected Robert A. Michael to succeed Mr. Gonzalez as the company’s CEO. Mr. Gonzalez, who served as CEO since the company’s formation in 2013, retired from the role of CEO and became Executive Chairman of the Board of Directors, effective July 1, 2024. The Board also appointed Mr. Michael as a member of the Board of Directors as a Class II director, effective July 1, 2024. This succession event was the result of robust planning and discussion by the full Board. As part of these discussions, the Board also assessed its current and future leadership structure. At the time, the Board determined that having Mr. Gonzalez remain as Executive Chairman for a period of time would facilitate a smooth transition for the company. This period of transition has proven to be effective, with the company achieving one