Craig Bryson, general counsel of Abbott Medical Optics, noted the irony of completing a merger and aquisition transaction. He worked diligently on Johnson & Johnson’s high profile $4.33 billion acquisition of the Santa Ana operation, which makes surgical devices and consumer products for eyes.
“To be honest… if this J&J deal closes, it’s like working yourself out of the job,” he said.
But the winner of the Business Journal’s seventh annual General Counsel Awards in the Public Company category has plenty more on his plate than being concerned about his fate post-acquisition. The awards dinner was held on Nov. 2 at Hotel Irvine (see related coverage, pages 1, 6, 8, 9, 10, 11).
“The deal is a record for me personally,” said Bryson, referring both to deal size and timeline.
Illinois-based Abbott Laboratories which had shifted its focus to cardiovascular devices and diagnostics, first contacted Bryson in July to explore a possible sale of Abbot Medical Optics, its ophthalmic unit. The Santa Ana unit makes equipment used in cataract surgery, LASIK surgery and consumer eye drops and solutions. Johnson & Johnson announced the deal in September, and it’s expected to close early next year.
“There was a flurry of activities up to the announcement… and now it’s a pretty busy period trying to prepare for a close. This experience has allowed me to grow, especially as a manager of people,” he said.
Bryson said he initially led his team by taking on the majority of the workload himself. But the experience has taught him that to be a good leader is to be a resource to the team, empowering them to do the job themselves.
Bryson termed his newfound style service leadership.
“You lead by being selfless and not being concerned about yourself. You are committed to the development of the business and the development of the people on your team. Give them training opportunities, leadership opportunities, and at some point you have to let go and hope you did a good enough job. Kind of like what you do with your kids,” explained Bryson.
Bryson credits his grandmother and his mother as key influences. His father died when he was five, and his mother raised him and his brother.
He says his wife, Ann, plays an indispensable role in keeping him grounded. The two met through mutual friends as undergraduate students at Miami University in Ohio, where he studied French and international studies. He proposed to her during his first year of law school at Ohio State University, “… in this huge natural preserve…” in front of her parents’ house.
Bryson was about to become a partner of a law firm in Cincinnati when Abbot approached him. He decided to go in-house with Abbott in 2007, initially working as counsel on M&As, and later as senior counsel in various areas, including corporate transactions, intellectual property strategy and licensing, and development and operations.
He has been with Abbott Medical Optics almost three years, and he sees his role of general counsel having less to do with individual hard work and more to do with directing management to focus on the right thing.
“When you are in-house… you are bound to do what’s best for that company,” he said. “Part of our reason for throwing our head in the award is to let people know that AMO is a part of Abbott, and we are committed to OC… [and how we can] affect people’s lives and impact community,” Bryson said.
He said he is proud of his team for finding a clear process in assisting the company to reach its objectives. The experience—and how he plans to deal with the pending sale—were summarized in Bryson’s acceptance speech as he claimed the general counsel award.
“I am excited, shocked but I am also prepared,” he said, “because that’s what good general counsels do.”
