NBTY names new CEO
RONKONKOMA, N.Y. — NBTY on Tuesday named Steven Cahillane CEO. A 25-year consumer goods industry veteran, Cahillane comes to NBTY from Coca-Cola, where he led the successful integration of Coca‐Cola Enterprises' North American bottling operation and drove significant market share gains as president of Coca-Cola Americas.
"Steve has an exceptional track record of building brands and delivering shareholder value in consumer goods industries," stated Sandra Horbach, chairman of the Board of NBTY and head of the Carlyle Group's consumer-retail team. "Steve is an experienced and thoughtful executive who will lead NBTY to the next level of market penetration and financial success."
Cahillane, who succeeds Jeff Nagel, begins his new role on Sept. 8. "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 said.
Prior to becoming president of Coca-Cola Americas in 2013, Cahillane was president and CEO of Coca-Cola Refreshments and president of Coca‐Cola Enterprises for North America and Europe. Before joining Coca-Cola in 2007, Cahillane held several senior roles at InBev (now AB Inbev), including chief commercial officer, CEO of Interbrew U.K. and CEO of Labatt USA. Cahillane previously held positions with Coors Distributing Company, State Street Brewing Company and E&J Gallo Winery.
Cahillane, 49, earned his BA from Northwestern University and his MBA from Harvard University. He serves on several corporate and philanthropic boards and is an avid marathon runner.
Retail coalition petitions Supreme Court to review U.S. Court of Appeals’ swipe fee decision
WASHINGTON — A coalition of retail groups on Monday filed a joint-merchant petition with the Supreme Court seeking its review of the March 2014 swipe fee decision by the U.S. Court of Appeals for the D.C. Circuit.
“Congress originally passed a law that was designed to lower swipe fees paid by customers and merchants, but the final Federal Reserve rule disregarded the legislative language and actually raised rates on many transactions," said Leslie Sarasin, president and CEO of the Food Marketing Institute , one of the retail associations to join the petition. "Our food retailers and wholesalers consistently serve their customers based on a simple merchandising strategy — low markups and high volume — and these excessive swipe fees exceed the industry’s 1% net profit on shoppers’ orders," she said. “We urge the Supreme Court to agree to hear this case recognizing that the Fed’s rule has a significant impact on anyone who uses or accepts a debit card, including shoppers, merchants of all sizes and any other non-merchant entity responsible for the 50 billion debit card transactions each year.”
The final outcome of the swipe fee rule will have a significant economic impact to the roughly eight million merchant locations that accept debit cards for payment in the United States, the association stated.
Earlier this year, the D.C. Circuit largely upheld the Federal Reserve’s debit card rule and network non-exclusivity rule, reversing the decision of the U.S. District Court. FMI and the other plaintiff-petitioner merchant groups argue that the final rule is inconsistent with the clear direction provided by Congress and allows banks to charge American merchants and consumers twice as much as the proposed rule.
In the petition — filed in conjunction with FMI, NACS, National Retail Federation, Miller Oil, Boscov’s Department Store, and the National Restaurant Association — the merchant groups assert that this case is significant to the U.S. economy, merchants and consumers and was seen by two different judicial bodies in such contrasting ways that it deserves the review of the Supreme Court.
Flu shots for the 2014-2015 season now available at all Walgreens locations
DEERFIELD, Ill. — Walgreens on Tuesday announced that flu shots are now available at all locations, including pharmacies and Healthcare Clinics. Age restrictions vary by state at Walgreens pharmacies, while Healthcare Clinics at select Walgreens can provide immunizations for patients age 2 years and older.
“The flu has certainly hit harder the past couple of seasons, which is why it’s important to protect yourself and to do so early given the unpredictability that comes with every flu season,” stated Harry Leider, Walgreens chief medical officer. “We’ve seen growing numbers of people waiting until December or January, or until flu activity becomes more widespread before getting their flu shot. The more people who get vaccinated, the better the community at large can be protected, however that 'herd immunity' has been lacking somewhat the last two years, which has been a contributor to more severe flu seasons.”
Walgreens data shows that over the last two seasons, an average of 26% of flu shots administered at its pharmacies and Healthcare Clinics came in December and January — approximately three times the percentage that were administered in those traditionally slower months during more typical flu seasons of 2010-11 and 2011-12.
Following a second straight severe flu season in the United States, and one which impacted younger adults in particular with increased hospitalizations, health officials are encouraging early vaccination to help protect against influenza this season. The Centers for Disease Control and Prevention recommends an annual flu shot for everyone over the age of 6 months as soon as the vaccine becomes available.
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