Fw: Should Inamed the breast implant maker be honored by LA Business Journal?

[Guest guest]

----- Original Message ----- From: Zuckerman

ifriends@...

Sent: Wednesday, July 16, 2003 8:29 PM

Subject: Should Inamed the breast implant maker be honored by LA Business Journal?

I thought that many of you would like to know that the CEO of Inamed (formerly McGhan), one of the major manufacturers of breast implants, is a finalist for the LA Business Journal Entrepreneur of the Year. The blurb on him is below.

I have no doubt that some of you would like to tell the journal what you think of this nomination. Those of you who suffer from illnesses or had enormous medical bills might want to share that information in a letter to the

editor, and also directly to the editor in chief--- he seems to be the decision maker.

You can email letters to both places at once:

Letters to the Editor: Email to letters@...

Editor in Chief, Mark Lacter: Email to mlacter@...

Or if you prefer, you can call or fax your views:

Phone: 1-800-404-5225 if you live in California or 323-549-5225.

Fax: 323-549-5262

Best wishes,

Zuckerman, Ph.D.PresidentNational Center for Policy Research (CPR) for Women & Families

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Los Angeles Business Journal

June 23, 2003

"Entrepreneur of the year: The finalists."

One of the nominees is:

NICHOLAS L. TETI, JR.

Chairman, President & Chief Executive Officer

Inamed Corporation

Teti began his business career as a sales representative for Dupont-Merck Pharmaceuticals. When he left the firm 24 years later, he was CEO.

Arriving at Inamed Corporation, Nick found a company so fragmented it didn't know its own name. Four decentralized operations existed, none of them using the name Inamed.

The largest of Inamed's business lines was the McGhan breast implant division, which in turn contained a newly-acquired entity that sold collagen dermal fillers. These operations were located in Santa Barbara. Another business line marketed the newly-approved Lap Band system used in obesity surgery. A third entity, McGhan International, operated out of Dublin, Ireland. Each division existed as a stand-alone operation, with its own manufacturing, finance and human resources.

A final branch of the splintered company was the corporate office, housed in New York. "Needless to say," Nick says, "the management was not connected to the business."

Although it was clear the company needed unification, achieving it was far from simple. Interests of management and employees were centered on their own operations. People had, as Nick says, "their own turf, their own rules and their own power to protect."

Nick closed the corporate office and relocated it beside the company's largest division, in Santa Barbara. He recruited a new management team, replacing eight out of ten of the existing executives. He unified the staff with a reward system based on overall company achievement and clearly defined company goals -- and most importantly, showed people how they would achieve those goals. From barely-attached pieces, he forged a single entity, reclaimed the company name, and put it on a path of exponential growth.