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BRISTOL-MYERS SQUIBB NAMES EXEC VP DOLAN HEAD OF U.S. OTC BUSINESS

This article was originally published in The Tan Sheet

Executive Summary

BRISTOL-MYERS SQUIBB NAMES EXEC VP DOLAN HEAD OF U.S. OTC BUSINESS effective immediately, a July 20 internal company bulletin states. As president of Bristol-Myers Products, Peter Dolan, 37, replaces Richard Gaccione, 46, who has been appointed senior VP-worldwide OTC strategy of the Bristol-Myers Squibb Consumer Products Group, a new position. BMS did not elaborate on the nature of Gaccione's duties. Gaccione will report to Bristol- Myers Squibb President Charles Heimbold. Dolan joined the company in 1988 as VP-marketing for Bristol- Myers Products and advanced to senior VP-marketing and sales in 1990. In 1991, he took on additional responsibility for operations and one year later was named exec VP with purview over sales, marketing, operations, finance and U.S. product development. Before joining BMS, Dolan held a variety of marketing positions with General Foods. The executive changes flow from the planned retirement of Marvin Koslow, 64, as president of BMS' Consumer Products Group on July 31. Heimbold will serve as interim president of the Consumer Products Group. In a July 20 internal bulletin, Bristol-Myers Squibb Chairman and CEO Richard Gelb noted that Koslow, a 28-year veteran of the firm, had initially planned to retire in 1990, but was ultimately persuaded to remain with the company to "assume the role of president [of the] Consumer Products Group to help bring together our various consumer products divisions and to capitalize on the synergies that exist among these businesses." Under Koslow's leadership, "the company has made great strides in crafting a global strategy for our key consumer product areas," Gelb said. Koslow, Gelb continued, also pioneered "the establishment of modern advertising agency/client relationships." BMS recently reassigned advertising for three of its Excedrin products from DDB Needham to Bozell Worldwide and J. Walter Thompson ("The Tan Sheet" July 12, In Brief). In a separate July 20 internal bulletin, Gelb concluded that he has "confidence in the strategic direction of the Consumer Products Group . . . and I fully expect that we will continue to realize growth in our key markets around the world." In addition to OTC products, the Consumer Products Group includes Bristol-Myers Squibb's Clairol business; the Drackett household products business also fell under the auspices of the Consumer Products Group before it was sold to S. C. Johnson in 1992. Bristol-Myers Squibb's OTC business includes brands such as Bufferin, Comtrex, Nuprin, Ban, Theragran and PreSun. The firm's consumer products division registered a 7% worldwide sales increase for the second quarter (see following story).
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