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99 Cents Only names interim CFO

BY Ryan Chavis

CITY OF COMMERCE, Calif. — 99 Cents Only Stores named Christopher Laurence as the company’s interim CFO, treasurer and secretary. Laurence replaces Frank Schools, who resigned to pursue other opportunities.

Laurence joins 99 Cents Only Stores from ThreeSixty Group, a product development and sourcing company for consumer product brands and retailers. He served as its CEO for the past six years and during his 12 tenure also served in a number of key management positions.

Laurence started his career in Morgan Stanley’s investment banking group after graduating from Brown University with a degree in economics.

 

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Teva announces new structure, leadership changes

BY Ryan Chavis

JERUSALEM — Teva Pharmaceutical Industries on Monday announced a new organizational structure and executive positions. The changes, which will become effective July 1, are designed to improve global integration and effectiveness across the company, Teva said.

Beginning next month, the company will be led by two commercial business units: global specialty medicines (GSM), established in April 2013; and global generic medicines group (GGM).

GGM will have full global responsibility for all generic markets. It also will be responsible for the company’s growing OTC business. Sigurdur Olafsson has been named president and CEO of the newly formed GGM group. The GSM group, led by Dr. Rob Koremans, will be responsible for the company’s specialty medicines business. GSM will continue to drive growth and will introduce new brands through its business initiatives.  

“The new organizational structure and leadership team will better position Teva to deliver sustainable growth and create short and long-term value. We must capitalize first on our existing assets and capabilities, and exploit opportunities and synergies emanating from the full integration of all business activities — most importantly, generic and specialty — while leveraging our global R&D and operations capabilities," said Teva’s president and CEO, Erez Vigodman.

Teva also established global corporate marketing excellence and communications group and the corporate development, strategy and innovation Ggroup. Iris Beck-Codner was named group EVP, corporate marketing excellence and communications. A leader has not yet been appointed for the corporate development, strategy and innovation group.

Rounding out the leadership changes is the appointment of Eric Drapé as group EVP, global head of quality. Drapé currently serves as head of sterile, respiratory and specialty operations.

 

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Bodystrap launches compact application tool

BY Ryan Chavis

SEATTLE — Bodystrap announced the launch of a patented, compact strap that will allow consumers to apply sun care, lotion and body wash products to their backs.

Bodystrap has an 80-in. surface area, which allows for a single, quick application and is also hydrophobic. The product retails for $9.99 for a box of 10 straps. The straps can be rinsed and reused numerous times before being thrown away. Bodystrap will launch at Walgreens.com and DrugStore.com, according to the company.

 

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