Robert Schoellhorn Found New Career After Serving as Abbott Labs CEO

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 [e-mail]

(END) Dow Jones Newswires

February 03, 2017 05:44 ET (10:44 GMT)

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