Neutrogena's Chairman Cleans Up
The big winner in Johnson & Johnson's acquisition of Neutrogena, announced on Aug. 22, will be Neutrogena Chairman Lloyd Cotsen: His 38% stake is worth $348 million. But Cotsen, who started at the soap-and-shampoo company in 1957, after marrying the boss's daughter, has had a career fraught with family tragedy and intrigue. In 1979, his wife and teenage son were found murdered at home in Beverly Hills, Calif. Police suspected a business rival involved in a bitter dispute over Neutrogena trademark rights--who later committed suicide. And Cotsen's second wife filed suit in 1992 charging him with failing to deliver $1.5 million worth of Neutrogena stock he had promised. Cotsen denied the charge.