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Wyeth names new CEO

This article was originally published in The Tan Sheet

Executive Summary

Wyeth announced Sept. 27 that Bernard Poussot will assume the position of CEO and president as of Jan. 1, 2008. Poussot will replace Robert Essner, who was elected CEO in May 2001 and became chairman in January 2003. Poussot began his career at Wyeth in 1986, and held positions including executive vice president until January 2007, when he was promoted to president, chief operating officer and vice chairman of Wyeth (1"The Tan Sheet" Jan. 29, 2007, In Brief). Essner will remain in his positions at Wyeth until Poussot's Jan. 1 start-date...

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Wyeth chairman retires

Robert Essner will retire June 27 after more than five years as Wyeth's chairman and after serving as CEO from 2001 to 2007, the Madison, N.J.-based firm says. Wyeth President and CEO Bernard Poussot will succeed Essner as chairman, as announced in April 2006 when Poussot was promoted to president (1"The Tan Sheet" Oct. 1, 2007, In Brief)...

People In Brief

Wyeth promotes executives: Cavan Redmond will begin his tenure as the Madison, N.J.-based drug firm's Consumer Healthcare group president in January and Joseph Mahady will head the Pharmaceuticals division, among other management changes, Wyeth announces Nov. 30. Redmond will be responsible for the division's global operations, among other duties, the firm states. His previous positions include executive VP and general manager of the BioPharma business unit of Wyeth Pharmaceuticals as well as "positions of increasing responsibility" in the R&D and commercial divisions, Wyeth says. Mahady, elected both as president of Wyeth Pharmaceuticals and senior VP of the firm, began his career with Wyeth in 1979 as a pharmacist in regulatory affairs and most recently worked as the pharmaceutical division's global business president. The Madison, N.J.-based firm announced the election of Bernard Poussot as CEO and president in September (1"The Tan Sheet" Oct. 1, 2007, In Brief). Currently president, chief operating officer and vice chairman, Poussot, like the other recently promoted executives, will begin serving in his new capacity Jan. 1...

Wyeth Q3

Advil revenues increased 18% to $178 mil. in the fiscal third quarter, Wyeth announces during an Oct. 18 analysts call. The brand drove Consumer Healthcare sales worldwide up 8% to $715 mil. in Q3; the division was boosted slightly by sales of Centrum, which advanced 1% to $174 mil. during the period, according to Wyeth. "Adding to our brands was a stronger consumer heritage in this business, our new opportunities such as Advil PM and our recently launched Centrum Cardio," the firm says. The company's worldwide net sales grew 9% to $5.6 bil., though net profit fell slightly to $1.15 bil. versus $1.16 bil. in the prior-year quarter, due in part to charges related to productivity initiatives. President and CEO-elect Bernard Poussot made his first presentation during the call since the firm announced he would replace Robert Essner as CEO in January (1"The Tan Sheet" Oct. 1, 2007, In Brief)...

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