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News > Companies
Drug company chief retires
February 1, 1999: 8:45 a.m. ET

Warner Lambert chairman Melvin Goodes steps down; successor named
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NEW YORK (CNNfn) - Warner-Lambert company announced Monday that chairman and chief executive Melvin Goodes plans to retire effective May 1.
     He will be succeeded by Lodewijk J.R. de Vink, the company's president and chief operating officer.
     Goodes joined the Morris Plains, N.J.-based company in 1965 and became chairman and chief executive officer in 1991. When Goodes took the helm, Warner-Lambert had a market value of $9 billion. Today the company has a market value of nearly $60 billion, a 500 percent increase during Goodes' tenure.
     "Mel Goodes provided the necessary leadership at a critical time in Warner-Lambert's history," de Vink said in a statement. "Our success today is testament to both the wisdom of that leadership and to Mel's management skills."
     On April 11, Goodes will turn 64. The mandatory age for senior executive management is 65.
     Shares of Warner-Lambert (WLA) rose 3/8 Friday to close at 72-3/8.Back to top

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