Hospira CEO Chris Begley. (Hospira)

Hospira Inc. on Friday  said Chief Executive  Christopher Begley will retire after more than six years in the top job but remain active in the management and operation of the Lake Forest-based maker of generic drugs and hospital products.

Begley, 58, is the only CEO Hospira has had since it spun off from Abbott Laboratories in 2004 into its own publicly traded company. He will remain CEO until a successor is named and then take on the position of “executive chairman,” which Begley described in a conference call with analysts as a chairman who stays on as an employee “and plays a greater role in the company than a non-executive chair.” Get the full story »