Edward J. Ledder

Edward (Ted) J. Ledder (1917-2010) Edward (Ted) J. Ledder, a long-time leader of the Chicago business community, has died at his home in Fredericksburg, Texas. He was 93. Born in Chicago on August 3, 1917, Ledder graduated from the University of Chicago and its Graduate School of Business. He joined Abbott Laboratories in 1939 as an hourly employee. During his tenure, Ledder guided Abbott through significant challenges, including a massive product recall and lower-than-expected financial performance. He also established the Abbott Diagnostics Division, which has since gone on to become one of the global market leaders. His leadership led to a major turnaround for the company. Ledder served as a lieutenant (j.g.) in the United States Navy from 1944 to 1946. He returned to Abbott as an assistant manager, pricing and quotations, and then entered a rotation-training program in the production planning department in 1953. He joined the sales division in 1954 as a sales coordinator and became assistant director of sales in charge of product promotion in 1960. He was named director of pharmaceutical marketing in 1961, and was elected to the board of directors in 1965 and executive vice president, marketing operations, in 1966. Ledder was elected president and chief operating officer in 1967 and served as chief executive officer from July 1972 to April 1979. He retired as an active employee of Abbott in April 1980 and as chairman of the board of Abbott in July 1981, a post which he had held since 1976. As Abbott's leader, Ledder was widely recognized for returning the company to health after it endured some difficult times. In 1971, a massive recall of all of Abbott's intravenous solutions for hospital use was initiated because of bacterial contamination. At the time, the solutions were Abbott's single biggest product line, and the recall cost the company both market share and sales. That same year, Chairman George Cain, the company's chief executive officer for 14 years, died suddenly of a heart attack, leaving Ledder at the helm. Between 1971 and 1974, Ledder skillfully executed a long-range plan put in place by Cain to improve Abbott's performance and put it back among the health care leaders. The company's sales and earnings increased sharply, earning Ledder praise for orchestrating the turnaround. During this same period, Ledder established the Abbott Diagnostics Division, bringing together all of the company's efforts in biologics, radiopharmaceuticals and instrumentation. Abbott's introduction of many first-of-a-kind products and significant technological advancements helped transform the practice of medical diagnosis and created the modern diagnostics industry. He was also known for leading efforts to recruit experienced managers from competing companies, bringing in nearly 20 new managers to help grow the company's businesses. Ledder was a recognized leader in business, serving in positions of industry leadership in the Pharmaceutical Research and Manufacturers of America (PhRMA), the industry's trade association. He served as a director for FMC Corporation and ENSERCH Corporation. He also was a member of the board of governors, for the University of Miami (Fla.) School of Medicine. In 1978, Ledder was presented the first annual Distinguished Manager Award by the Advanced Management Institute (Lake Forest, Ill.). In 1979, he received the Marketer of the Year award from the Chicago Chapter of the American Marketing Association. He also was committed to many local civic organizations, such as the Countryside Y.M.C.A. Ledder was a long-time resident of Chicago, residing in Hilton Head, South Carolina; Olney, Illinois; Stuart, Florida; Medicine Bow, Wyoming and Fredericksburg, Texas after his retirement. He was preceded in death by his wife of 55 years, Esther Jane Ledder (Putman). He is survived by his daughter Diane of Houston, Texas and son Mark of Fredericksburg, Texas; and by seven grandchildren. There will be no memorial or funeral services. Memorial contributions may be sent to The Clara Abbott Foundation, 1505 S. White Oak Drive, Waukegan, IL 60065.