New Chapter Founders' Vision Limited, Voice Stifled Under Parent Firm P&G
This article was originally published in The Rose Sheet
New Chapter founders Paul and Barbi Schulick leave and sever ties with parent firm Procter & Gamble six years after their company providing herbal products to US health food and vitamin stores was acquired by the global consumer health, personal and household care products marketer. Nature's Bounty adds Don Kerrigan, formerly in charge of US OTC drug marketing for Bayer and Pfizer, as its president for North America.
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New Chapter founder Paul Schulick will introduce skin masks, cleansers and lotions with Algatech's topical astaxanthin to maintain skin microbiome. He also plans to launch nutraceuticals once a non-compete agreement with P&G, the owner of his former firm New Chapter, expires in 2020.
New Chapter founders onto next chapter; French dairy firm acquires African pharma's formula business; 'Earth First' packaging for Premier Protein shakes; and Frutarom touts cognitive ingredient award for Neuravena.
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.)