Robert Schoellhorn Found New Career After Serving as Abbott Labs CEO
03 February 2017 - 9:59PM
Dow Jones News
By James R. Hagerty
Many people buy a home on wheels, or recreational vehicle, after
retiring. Robert Schoellhorn, a former chief executive of Abbott
Laboratories, didn't stop there: He also bought a maker of high-end
RVs and a company that develops resorts for them.
After Mr. Schoellhorn retired as chairman of the pharmaceutical
giant Abbott Laboratories in 1990, his wife talked him into buying
a motor home. "I was convinced I wasn't going to like that
lifestyle," he later told a reporter. He did, but found the RV he
purchased wasn't as comfortable as the corporate jets he used to
ride. It "blew all over the road in a high wind," he said.
The Schoellhorns traded up to a Marathon Coach, a luxury motor
home made by a company in Oregon. They then invested in the
manufacturer and by 1994 owned the entire company, now run by one
of Mr. Schoellhorn's sons. They also bought a company that develops
posh RV parks, Outdoor Resorts of America Inc., now headed by his
other son.
Mr. Schoellhorn died Jan. 11 at home in West Palm Beach, Fla. He
was 88.
Motor homes made by Marathon Coach typically cost about $2
million to $2.5 million. They come with such amenities as heated
bathroom floors, walk-in closets and satellite dishes. The 45-foot
homes are built using Volvo commercial bus chassis.
Robert Albert Schoellhorn was born Aug 29, 1928, in
Philadelphia. His father managed a chemical plant. The younger Mr.
Schoellhorn earned a bachelor's degree in chemistry from the
Philadelphia College of Textiles and Science.
He spent 26 years at American Cyanamid Co., starting as a
chemist before moving into sales and then heading the company's
Lederle pharmaceuticals division.
He joined Abbott in 1973 as an executive vice president and
became president and chief operating officer three years later. The
board promoted him to CEO in 1979, and he added the title of
chairman in 1981. He pushed the company to increase earnings at
least 15% a year.
"My hobbies are mainly my business," he told The New York Times
in 1979. "I play a little bit of golf, but not very well. I have
some horses, but I don't get a chance to ride very well
either."
In December 1989, outside directors pushed him out as CEO amid
signs of tension over succession. After the company ousted him as
chairman in March 1990, Mr. Schoellhorn filed a lawsuit seeking to
retain his job. The two sides traded allegations before reaching a
settlement in July 1990, under which he was awarded $5.2 million in
cash.
Mr. Schoellhorn is survived by his wife of 18 years, Katherine,
and by three children and 12 grandchildren.
Write to James R. Hagerty at bob.hagerty@wsj.com
(END) Dow Jones Newswires
February 03, 2017 05:44 ET (10:44 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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