NEW YORK — 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 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 Schoellhorn’s sons.
Read the full story by The Wall Street Journal.