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Executive Summary

W-L TOPSIDERS JOSEPH WILLIAMS AND NEW PRESIDENT MELVIN GOODES reflect the firm's dual commitment to both Rx drug and consumer products businesses. The promotion of Goodes to president and chief operating officer, announced June 24, fits Warner-Lambert's tradition of balancing a Rx drug specialist with an exec with consumer goods experience in the company's top two management slots. Williams joined ParkeDavis 25 years ago and rose through the ranks of the marketing arm of the Rx business. Goodes, a 20 year veteran at Warner-Lambert, rose through the firm's internatl. consumer products business, culminating in his election as president of Warner-Lambert's consumer products group in 1977. Following a regular meeting of the Warner-Lambert board of directors in Freiburg, W. Germany on June 24, the firm announced the promotion of Goodes, 50, formerly exec VP and head of Warner-Lambert's U.S. operations, to president of the corporation and board membership. In addition, the Warner-Lambert board promoted President and CEO Joseph Williams, 58, to chairman, succeeding Ward Hagan, 65, who is retiring. Both promotions are effective July 1. Although Warner-Lambert formally indicated last November that Williams would succeed Hagan upon his retirement, Williams' successor in the number two spot had remained a question mark. Warner-Lambert gave a clue that Goodes might be in line to succeed Williams in March when the firm's only other exec VP, Charles Tse, president of internatl. operations, was named vice chairman. Goodes was elected corporate exec VP and president of Warner-Lambert's U.S. operations in January 1984. Since then, he has been responsible for "all U.S. consumer and health care operations, including the Parke Davis group as well as the globalized businesses within the Health Technologies Group," the company noted. A native of Canada, Goodes joined Warner-Lambert's Canadian affiliate in 1965. "He later served as president-Warner-Lambert Mexico, and as president-Warner-Lambert Internatl. Pan American/Asian Zone," the release states. Goodes was first elected corporate VP in 1977 and served as president of Warner-Lambert's consumer product group from 1977-1984. A graduate of Queens University in Ontario, Goodes also holds an MBA from the University of Chicago. He currently serves on the Proprietary Assn.'s board of directors. In addition to the promotions of Williams and Goodes, Warner-Lambert also announced that the Office of the Chairman, which includes Williams, Goodes, and Vice Chairman-Financial Affairs George Hromadko, would have two new members: Vice Chairman Tse and Senior VP-Chief Financial Officer Robert Dircks.

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