Perrigo's CFO Brings History With CEO; Vitamin Shoppe Looks For Another CFO
Perrigo appoints Ray Silcock, whose experience includes working with the firm's CEO, Murray Kessler, in the tobacco industry, as CFO. Vitamin Shoppe's Bill Wafford will leave May 5.
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Perrigo's Turnaround Tools: 'National Brand,' Novel NRTs, CBD And Natural Products, Sponsoring OTC Switches
Following investor day conference, market analysts gave Perrigo points for an ambitious three-year plan while also noting the degree of difficulty it faces in succeeding. Other changes planned to stem slump sales and earnings slump include potentially getting into CBD supplement space and getting back into VMS manufacturing after leaving the sector in one of several moves since 2015 intended to help drive net income and improve its margin.
Common thread between the manufacturers and retail chain operators offering their own and other brands extends to relatively recent executive suite shakeups following extended stretches of declining sales growth. GNC reported nearly $70m net income for 2018 after two years of net losses and Vitamin Shoppe trimmed its loss by more than $200m from 2017 to $12.1m.