Al B Reid
As a Board Director at Farmers Insurance Group (OTCMKTS: ZURVY) and former VP Corporate Development at Abbott Laboratories (NYSE: ABT), Al Reid is an expert at providing strategic, operational, and financial business intelligence to multiple enterprises. During his multi-decade professional career, he has steered exponential company growth with managed risk, executing strategic business imperatives that elevate market position and generate sustainable profits.
Al leads business transformation, jumpstarting growth by asking, “where are our opportunities to do better, and what do we need to do to make us best in class?” He guides companies to unlock the potential of data-based decision-making, with expertise in integrating digital transformation initiatives to gain superior competitive market positioning.
Al’s deep experience as a strategic thought partner in searching out opportunities to accelerate top-line growth well-positions him to provide valuable board guidance. He is ideally suited for Governance, DEI, M&A, Compliance & Risk, Business Expansion, and Compensation committee roles at future-facing start-ups and large-cap corporate or public company boards looking to expand or reposition their business.
While at Abbott, Al was a team recipient of Fortune’s “Change the World Award” for his business efforts in leveraging capitalism to address society’s unmet needs. He is noted for his outstanding excellence and contributions as an inspiring and motivational leader, bringing diverse personalities to work together towards a common goal, and leading by example with integrity, composure, and energy.
During his 20+ year tenure at Abbott, Al brought an international perspective toward expanding and launching multi-million-dollar products and services. He helped scale the company from a 60% US market presence to a 70% overseas presence and was lead architect for driving consensus for global corporate development on special M&A projects. He expanded into new markets and established global competitive positioning in Africa, China, and India.
As Director of Business Development, World Trade Division at Baxter Healthcare (NYSE: BAX), Al helped guide the $700M emerging market groups to determine opportunities for new market penetration via joint ventures and acquisitions.
Al currently provides strategic guidance on environmental and social efforts as a member of the Farmers Insurance BOG. Additionally, he is a frequently invited panelist on executing responsible global citizenship (ESG) and building diverse and inclusive organizations (DEI) as the founder of Abbott’s DEI Affinity Group.
Al is passionate about enhancing quality of life for all. He is an active civic member and has a vast network that supports a variety of causes, from STEM education to chronic disease prevention and responsible economic development.