BEECHAM's NEW CHAIRMAN WILL BE ROBERT BAUMAN, 55
BEECHAM's NEW CHAIRMAN WILL BE ROBERT BAUMAN, 55, the current vice chairman of Textron, the Providence, R.I.-based aerospace, financial services and consumer products conglomerate announced August 4. Bauman, the first American appointed to head Beecham, will succeed acting chairman Sir Keith of Castleacre at the top management spot for the British pharmaceutical and consumer products business. The appointment becomes effective September 15. Bauman joined Textron in 1985 after that company acquired Avco Corporation, where Bauman was chairman and chief exec. Prior to joining Avco in 1981, Bauman was with General Foods for 23 years -- the last seven years as president of the company's international operations. Bauman graduated from Ohio Wesleyan and holds an MBA from Harvard. Although he brings to Beecham hands-on experience managing a large multi-national conglomerate, Bauman has no experience with pharmaceuticals. As the company puts greater emphasis on its drug business, responsibility for the growth of that business segment will fall to Pharmaceutical Group President James Pollard, head of Beecham's worldwide pharmaceutical business. Beecham acquired the Norcliff Thayer OTC business from Revlon in December and recently announced that its Germaine Monteil cosmetics business is for sale. In its just-released annual report for fiscal 1986 ended March 31, Beecham said it paid $368.7 mil. for Norcliff Thayer, whose annual sales under Revlon were roughly $150 mil. In fiscal 1986, Beecham's worldwide pharmaceutical sales increased approximately 30% (in dollars) to $1.27 bil. with Rx sales accounting for approximately $1.04 bil. and OTC product sales approximately $230 mil. Measured in pounds sterling, Beecham pharmaceutical sales were up 8.3% to (BRITISH POUND)862.
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