Shareholders request that the Board of Directors adopt an enduring policy, and amend the governing documents as necessary including the Corporate Governance Guidelines in order that 2 separate people hold the office of Chairman and the office of the CEO as soon as possible. The Chairman of the Board shall be an Independent Director. An independent Lead Director shall not be a substitute for an independent Board Chairman. The Board shall have the discretion to select an interim Chairman of the Board, who is not an Independent Director, to serve while the Board is required to seek an Independent Chairman of the Board on an accelerated basis. This policy could be phased in when there is a contract renewal for our current CEO or for the next CEO transition although it is better to adopt it now to obtain the maximum benefit. An independent Board Chairman at all times improves corporate governance by bringing impartiality, objective oversight, and external expertise to board decisions, mitigating conflicts of interest, enhancing transparency, and boosting shareholder confidence. This detached perspective allows the chairman to focus on shareholder interests, strengthen management accountability, and provide critical checks and balances, ultimately contributing to long term sustainability and credibility. Now could be good timing for an independent Board Chairman to take over since Abbott stock was at $142 in 2021 and at only $124 in late 2025 despite a robust stock market. An independent Board Chairman could help Abbott avoid unfavorable news reports like those that emerged in 2025. Abbott continues to face hundreds of lawsuits consolidated in multidistrict litigation alleging its cow’s milk based formula (Similac) caused necrotizing enterocolitis, a life threatening intestinal disease, in premature infants. State court cases in 2024 resulted in massive verdicts against Abbott, including one for $495 million. A separate class action lawsuit was filed in March 2025, claiming some Similac formulas contained undeclared heavy metals. Abbott’s Sturgis, Michigan infant formula plant also remains under scrutiny following a 2022 bacterial contamination recall, with a U.S. Department of Justice criminal investigation ongoing. ProPublica reported in April 2025 that workers at this Sturgis factory continued to report unsanitary practices, 3 years after the major 2022 recall, indicating persistent quality control issues and ongoing negative press related to the prior scandal. A federal judge in California declined to dismiss a class action lawsuit claiming Abbott falsely advertised its Glucerna products for diabetes management despite containing ingredients like sucralose which can worsen the condition. A Discounted Cash Flow analysis in October 2025 suggested Abbott stock was approximately 42% overvalued based on cash flow fundamentals. Abbott faced ongoing “challenging market conditions” in China, including price and volume pressures, which negatively impacted its core lab diagnostics business. The Trump administration’s proposed 2024 Medicare medical device sector cut back also raised concerns, which would impact Abbott.