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Executive Summary

MILES EXEC VP HORST WALLRABE WILL HEAD BOTH Rx AND OTC OPERATIONS under a Sept. 24 corporate reorganization of Bayer USA, the U.S. subsidiary of the German diversified chemical/pharmaceutical firm. Effective Jan. 1, 1992, Wallrabe, who currently directs Miles' $ 1 bil. ethical pharmaceutical business, will add responsibility for the company's $ 300 mil. Consumer Health Business. Wallrabe will report directly to Bayer USA president and CEO Helge Wehmeier. As part of the reorganization, the holding company Bayer USA and its operating subsidiaries (Miles, Mobay, and Agfa) will become a single operating company named Miles, Inc. on Jan. 1. Miles' OTC business, which includes Alka-Seltzer, One-A-Day adult vitamins and Flintstones chewable vitamins, "will remain a distinct operational unit in Elkhart, Ind.," Miles said. Consumer Healthcare President Werner Spinner will report to Wallrabe, who will remain in West Haven, CT. Current Miles President and CEO Klaus Risse will become vice chairman of the new combined operations, Miles, Inc. Wallrabe will head the Pharmaceuticals Division, one of eight operating units and two service organizations making up the new Miles, Inc. He will be one of nine exec VPs of the new company who, along with Wehmeier, will form the new Miles Executive Committee. The smaller operating companies of Bayer USA, including the Haarman & Reimer fragrances business, "will remain separately incorporated but will be integrated operationally into the new divisions" of Miles, the company said. Haarman & Reimer will be in the Organic Products Division. The integration of Bayer's U.S. management structure could create some redundancies, the company acknowledged. While stressing that the purpose of the reorganization is not to reduce headcount, the company indicated that layoffs may be a possibility.

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