Ronkonkoma-based Nature’s Bounty Co. named Paul Sturman its new chief executive Thursday, as president and CEO Steve Cahillane leaves to become chief executive of Kellogg Co.
Separately, Nature’s Bounty said that Manhattan-based investment company KKR completed its purchase of a majority stake in the vitamin and dietary supplement maker on Wednesday.
Sturman, 58, has more than 30 years of experience working in consumer health care. He has worked at Johnson & Johnson, Warner-Lambert, and at Pfizer, where he spent six years running the company’s consumer health care business.
“Paul is a very well regarded leader in the consumer healthcare space,” Nate Taylor, head of consumer retail at KKR, said in a statement. “He’s a great fit to lead Nature’s Bounty in its next stage of growth.”
In a statement, Sturman said, “I am honored to join the team at Nature’s Bounty and to lead this impressive platform. There are tremendous opportunities to grow Nature’s Bounty’s footprint in this rapidly expanding global wellness industry.”
Nature’s Bounty’s brands include vitamin brand Nature’s Bounty and supplements brand Puritan’s Pride, as well as Sundown Naturals, Solgar, Osteo Bi-Flex, Ester-C, MET-Rx, Pure Protein, Balance, Body Fortress and Organic Dr.
The company has about 2,100 employees on Long Island and about 4,000 globally.
Terms of KKR’s purchase of a majority stake in Nature’s Bounty will not be disclosed, a Nature’s Bounty spokeswoman said Thursday. Washington, D.C.-based investment fund Carlyle Group will be the minority owner.
Carlyle had purchased Nature’s Bounty, formerly named NBTY, in 2010 for $3.8 billion.
Battle Creek, Michigan-based Kellogg, the maker of Frosted Flakes, Pop-Tarts and Eggo waffles, said Thursday that Cahillane, 52, will replace chief executive John Bryant, 51, next week. Cahillane will also join the company’s board.
Bryant will remain executive chairman of the board until March, when Cahillane will take over that role. Cahillane has also worked at soda company Coca-Cola Co. and beer maker AB InBev.