AmerisourceBergen Names Michael D. DiCandilo Senior Vice President and Chief Financial Officer
DiCandilo succeeds Neil F. Dimick, who, as previously announced, is leaving AmerisourceBergen for personal reasons. Dimick will remain with the Company through April to ensure a smooth transition.
"It is a great pleasure to appoint Mike to this new role. He brings to the job the demonstrated financial discipline needed to continue to drive AmerisourceBergen's performance," said Yost. "He is a strong, hands-on leader, and his unique background in both field and corporate operations has given him a broad, in-depth understanding of the business."
Added Kurt J. Hilzinger, AmerisourceBergen Executive Vice President and Chief Operating Officer, "Mike and I have worked together for over a decade, and he is an extremely capable finance executive who possesses a uniquely strong combination of technical expertise and business acumen. He knows our business as well as anybody in the industry and undoubtedly will continue to be a strong contributor."
"I am excited about taking on this new leadership role and helping to deliver continued value to our shareholders," said DiCandilo. "I am convinced AmerisourceBergen has tremendous potential. We have $150 million in annual cost-saving synergies from the AmeriSource Health Corporation and Bergen Brunswig Corporation merger to capture by the end of fiscal 2004; we are building the most efficient distribution network in the industry; and we are expanding customer services and solutions all along the pharmaceutical supply chain."
DiCandilo was named AmerisourceBergen's Vice President and Corporate Controller in October of last year, shortly after the merger of AmeriSource Health and Bergen Brunswig. He joined the former AmeriSource 12 years ago as Regional Vice President of Finance for the company's northeast region. Five years later, DiCandilo was appointed AmeriSource's Vice President and Controller, where he played a critical role in transforming financial administrative functions from a decentralized to a centralized model. Prior to joining AmeriSource, he served eight years with Ernst & Young in a variety of accounting management positions.
DiCandilo is a Certified Public Accountant and holds a Bachelor of Science degree in accounting from the Wharton School of the University of Pennsylvania, where he graduated summa cum laude.
About AmerisourceBergenAmerisourceBergen (NYSE:ABC) is the largest pharmaceutical services company in the United States dedicated solely to the pharmaceutical supply chain. It is the leading distributor of pharmaceutical products and services to the hospital systems/acute care market, alternative care providers, independent community pharmacies, and regional chains. The company is also a leader in the institutional pharmacy marketplace. With approximately $39 billion in annualized operating revenues, AmerisourceBergen is headquartered in Valley Forge, PA, and employs more than 13,000 people serving over 25,000 customers.
Forward-Looking StatementsThis press release may contain certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained in the forward-looking statements. The forward-looking statements herein include statements addressing future financial and operating results of AmerisourceBergen and the benefits and other aspects of the merger between AmeriSource Health Corporation and Bergen Brunswig Corporation.
The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: the risk that the businesses of AmeriSource and Bergen Brunswig will not be integrated successfully; failure to obtain and retain expected synergies; and other economic, business, competitive and/or regulatory factors affecting the business of AmerisourceBergen generally.
More detailed information about these factors is set forth in AmerisourceBergen's filings with the Securities and Exchange Commission, including its most recent 10-Q, its Annual Report on Form 10-K for fiscal 2001, and AmeriSource's and Bergen's joint proxy statement-prospectus dated August 1, 2001.
AmerisourceBergen, AmeriSource and Bergen Brunswig are under no obligation to (and expressly disclaim any such obligation to) update or alter their forward-looking statements whether as a result of new information, future events or otherwise.
CONTACT: AmerisourceBergen Corporation, Valley Forge Michael N. Kilpatric, 610/727-7118 firstname.lastname@example.org