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Q&A: New leadership changes and the future of ABB Optical
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Meghan FitzGerald has joined the board of directors; Mike Bono has been named CFO and will oversee the administrative, financial and risk management operations of the company; attorney Michael Dell has been appointed general counsel, a newly created position; Erika Jurrens has joined as senior vice president of strategic development and commercialization; Aaron See is now senior vice president of manufacturer partnerships; Paul Sherman has taken a new position as chief development officer.
In addition, Tom Burke has been named CEO of ABB Optical. Burke spoke with Primary Care Optometry News regarding his new role and his vision for the future of the company.
PCON: Where do you see ABB Optical now?
Burke: From day one, ABB Optical Group has been focused on helping optometrists build their business. Our mission will always be to help eye care providers increase efficiencies, cut costs and grow profitability.
ABB is an amazing organization that has been a leader in the market for the last 25+ years. Our founder, Angel Alvarez, continues to have strong input on our business, as he serves on our board of directors. But this is an ever-changing landscape, and we have to be nimble, agile and aggressive in adapting to our customers’ needs.
Eye care practices that partnered with ABB last year experienced 6.9% year-over-year organic contact lens growth, and practices that partnered with Glimpse, our informatics service, outpaced the market in nearly every category. That’s great, but we can do better – and we will. What got us here won’t get us where we want to be. The best is yet to come, and I am excited about that.
PCON: Where do you see the company going in the future, and what plans do you currently have?
Burke: Long-term, our vision is to enhance and invest in the company to harness dynamic opportunities for innovation and customer growth. This includes a focus on enhancing our IT infrastructure, technologies and customer platforms; expanding our lab offerings and eye wear and ophthalmic lens inventories for the benefit of our customers; strengthening our relationships with manufacturers to increase value for our customers; re-envisioning our group purchasing organization; establishing a contact lens subscription model that keeps independent eye care practitioners at the forefront and competitive with market forces; investing in our facilities and distribution network to improve operating efficiencies; and, of course, increasing overall customer profitability.
Our employees are important to us, and we want to continue to be one of the best corporate environments to work in. We have a positive corporate culture and provide a high-quality place to work. Most importantly, our employees know they are working with a higher purpose; we are delivering the gift of sight.
PCON: How do you see ABB helping customers?
Burke: We are committed to be an essential partner in the communities of the optical industry, through best-in-class services, products and technologies offering ECPs the opportunity to focus on what is most important, their patients.
In this rapidly changing industry, ABB will continue to be at the forefront with innovative solutions and exceptional service. Each and every day we are committed to providing value and being an essential support system inside the optical industry and its patients through transparent relationships.
With our recent leadership moves and renewed strategy, we are positioned to navigate market changes and strategically focus on the success of our customers. We have a great, spirited team at ABB that has invested in our mission and vision, and that will serve our customers in the best way possible.
We want to be a technologies business. We’ve always been a great service business. Products are just not contact lenses and eye wear; there are other products that make us essential to ECPs. Doctors continue to rely on us and refer to us as essential partners as they are serving patients in the community. We will continue to play that role to the best of our ability and take that responsibility very seriously.
PCON: How do you see ABB helping the industry as a whole?
Burke: Health care is changing rapidly, and with ABB being such a critical optical platform for the industry, we are committed to providing value through meaningful support and transparent, valued relationships.
One example is in our strategic insights, which we release quarterly, as a valuable resource for the industry. Internet marketers will tell you “content is king.” In our industry “data is king.” As thought leaders, we share that data so ECPs can plan and ultimately grow their business.
Another example is ABB Cares, our signature annual grants program that supports nonprofit organizations nominated by eye care professionals nationwide. More than $50,000 has been awarded to charities since 2014.
We are passionate and we will continue to do everything we can to move the industry forward. That includes providing valuable insights, philanthropic work, hosting educational initiatives and partnering with ECPs for the benefit of the industry.
PCON: Would you like to add anything else?
Burke: I joined ABB in August with 40 years of experience in the health care and logistics industries. My background includes building innovative customer solutions, developing cutting-edge warehouse and logistics networks, leading dynamic and engaged teams, and guiding world-class organizations through extraordinary growth trajectories.
I have faced similar challenges and headwinds in other industries and continue to learn from past experiences. This gives me the energy to help ECPs and the passion for us to continue to understand and honor the needs of the ECPs in our communities.
We have a great team here at ABB from coast to coast. They are empowered to bring new solutions and excitement to this fantastic industry. Together we are passionately driving towards something meaningful and fulfilling not only for themselves but for our customers and our industry.
Through trusting relationships, we will be the market leader for best-in-class services, products and technologies, becoming the premier choice for the customers and communities we serve. – interviewed by Scott Buzby
Disclosure: Tom Burke is the CEO of ABB Optical.