Supplier News Breaks Archives
NBTY tabs former Coca-Cola exec as CEO
August 19th, 2014
RONKONKOMA, N.Y. – Vitamins and nutritional supplements maker NBTY Inc. has hired Steven Cahillane as chief executive officer.
NBTY said Tuesday that Cahillane is slated to take the helm as CEO on Sept. 8. He succeeds Jeff Nagel, who is moving to a new career opportunity, according to the company.
A 25-year consumer goods industry veteran, Cahillane joins NBTY from Coca-Cola Co., where he led the integration of Coca‐Cola Enterprises' North American bottling operation and drove significant market share gains as president of Coca-Cola Americas.
"NBTY has a great team, an array of strong products and significant growth potential," Cahillane, 49, said in a statement. "They are the market leader in a dynamic and important industry, and I am excited to build upon NBTY's reputation for quality, innovation and exceptional service."
Before becoming Coca-Cola Americas president in 2013, Cahillane served as president and CEO of Coca-Cola Refreshments and president of Coca‐Cola Enterprises for North America and Europe. Prior to joining Coca-Cola in 2007, he held senior roles at brewing giant InBev (now AB Inbev), and before that he held positions at Coors Distributing Co., State Street Brewing Co. and E&J Gallo Winery.
"Steve has an exceptional track record of building brands and delivering shareholder value in consumer goods industries," stated Sandra Horbach, chairman of NBTY and head of the consumer retail team at asset management firm The Carlyle Group, of which NBTY is a portfolio company. "Steve is an experienced and thoughtful executive who will lead NBTY to the next level of market penetration and financial success."
Nagel was named NBTY's chief executive in December 2010, coming to the company from General Electric Co.
"We appreciate the job that CEO Jeff Nagel has accomplished in positioning NBTY well for the future, and we wish him the best as he transitions to a new career opportunity," Horbach commented.
"I wish Steve much success in his new role," Nagel stated. "I am grateful for my four years working with outstanding NBTY associates and Carlyle's highly collaborative and talented professionals, and I look forward to new challenges and opportunities."
NBTY's roster of brands includes such names as Nature's Bounty, Sundown Naturals, Osteo Bi-Flex, Solgar, Balance Bar, MET-Rx, Pure Protein, Body Fortress, Puritan's Pride, Vitamin World, Holland & Barrett and De Tuinen.