The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
Jeffrey Nagel replaces Scott Rudolph who will remain as chairman.
Vitamin and supplement maker and retailer NBTY Inc. has a new CEO.
NBTY, No. 131 in the Internet Retailer Top 500 Guide, appointed today Jeffrey Nagel as the company’s top executive. He replaces current CEO Scott Rudolph who will remain as chairman.
Nagel joins NBTY—which sells online at Puritan.com, HollandandBarrett.com, VitaminWorld.com and NaturesBounty.com—from General Electric Co. Most recently he served as the top executive in charge of GE’s oil and gas services division.
He also has worked in various executive capacities such as CEO of GE Inspection Technologies, general manager of business development in GE Aircraft Engines and president of GE Home Electric Products. Nagel joined GE in 1997 as a manager in business development at GE Lighting.
As the new CEO of NBTY he will preside over a company making the change from public to private ownership. In July, NBTY was acquired by The Carlyle Group, a Washington, DC, private equity firm with more than $84.5 billion in assets, in a stock deal valued at $3.8 billion.