Abbott CEO Plans Exit After Forging Device Maker Into a Giant

Abbott Laboratories Chief Executive Officer Miles White plans to step down next year after more than two decades in his role, handing the reins of the medical-device giant to his second in command.

White, 64, has made Abbott a dominant player in medical technology, reshaping the company with a series of mergers and other deals as it confronted the rise of the digital age and the miniaturization of medical devices. Over his long tenure, Abbott’s shares have roughly quintupled in value.

White will remain executive chairman of Abbott’s board of directors after he steps down as CEO effective March ...