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Upjohn President Hoff resigns

Executive Summary

Lawrence Hoff, 60, announces resignation, effective Jan. 1. Hoff's departure is part of the transition plan unveiled in November with the establishment of a five-man office of the chairman. That management group was headed by Chairman Theodore Cooper and included three newly appointed exec VPs: ex-FDA Commissioner Mark Novitch; the head of Upjohn's pharmaceutical business, Ley Smith; and the head of the consumer and chemical products, William Parfet. As scion of the Parfet family, which controls approximately 7% of Upjohn common stock, William Parfet's progress through the executive ranks is being watched closely. Cooper will assume Hoff's title as president as well as hold the chairmanship after Jan. 1. Hoff is retiring after a 40-year career spent entirely at Upjohn.
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