Carlyle Group Gives NBTY Helm To Former Coca-Cola Executive Cahillane
This article was originally published in The Tan Sheet
Steven Cahillane, who left his post as president of Coca-Cola Co.’s Americas division in 2013, is moving to NBTY to replace Jeffrey Nagel after the supplement manufacturer and retailer reported flat sales for its most recent earnings period and after net income dropped nearly 12% during the firm’s previous fiscal year.
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Consumer health product industry veteran executive Paul Sturman takes the helm at Nature's Bounty Co. on the day that private equity firm Kohlberg Kravis Roberts & Co. LP closed its acquisition of a controlling interest in the nutritional and health and wellness product manufacturer from Carlyle Group LP. The Ronkonkoma, N.Y.-based firm on Sept. 28 said Sturman has more than 30 years of experience in the sector, including leading Pfizer Inc.'s consumer product group and is a past chairman of the Consumer Healthcare Products Association. (Also see "KKR Steers Nature's Bounty With Carlyle In Back Seat After Seven-Year Ride" - HBW Insight, 24 Jul, 2017.) Sturman succeeds Steve Cahillane, the second CEO Carlyle appointed in 2014 after acquiring Nature's Bounty, then NBTY Inc., in 2010 and taking the firm private. (Also see "Carlyle Group Gives NBTY Helm To Former Coca-Cola Executive Cahillane" - Pink Sheet, 20 Aug, 2014.)
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