AmerisourceBergen Names Steve Collis President and COO
VALLEY FORGE, Pa., Nov 12, 2010 (BUSINESS WIRE) --
AmerisourceBergen Corporation (NYSE: ABC) today announced that its Board of Directors has elected Steven H. Collis, 49, President and Chief Operating Officer, effective immediately. Collis previously was Executive Vice President AmerisourceBergen and President of AmerisourceBergen Drug Corporation (ABDC), the Company's largest subsidiary. Prior to that he was Executive Vice President of AmerisourceBergen and President of AmerisourceBergen Specialty Group (ABSG). He continues to report directly to R. David Yost, AmerisourceBergen's Chief Executive Officer. Prior to the election of Collis, Yost also held the title of President.
Collis is now responsible for all AmerisourceBergen business units including ABDC, ABSG, AmerisourceBergen Consulting Services (ABCS), and AmerisourceBergen Packaging Group (ABPG). ABSG and ABCS previously reported to Yost and ABPG previously reported to Michael D. DiCandilo, Executive Vice President and Chief Financial Officer.
"In his 16 years with AmerisourceBergen, Steve led both ABDC and ABSG to outstanding performance," Yost continued. "He grew ABSG from a start-up into a successful $16 billion business and last fiscal year led ABDC to stellar performance in a difficult economic environment. In his new role, Steve will now have the ability to further grow our business, drawing on the strengths of each unit to deliver compelling offerings to all of our stakeholders, and to drive even greater efficiency."
AmerisourceBergen is one of the world's largest pharmaceutical services companies serving the United States, Canada and selected global markets. Servicing both healthcare providers and pharmaceutical manufacturers in the pharmaceutical supply channel, the Company provides drug distribution and related services designed to reduce costs and improve patient outcomes. AmerisourceBergen's service solutions range from pharmacy automation and pharmaceutical packaging to reimbursement and pharmaceutical consulting services. With $78 billion in annual revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and employs approximately 10,000 people. AmerisourceBergen is ranked #24 on the Fortune 500 list. For more information, go to www.amerisourcebergen.com.
Certain of the statements contained in this press release are "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 change in circumstances. Among the factors that could cause actual results to differ materially from those projected, anticipated or implied are the following: changes in pharmaceutical market growth rates; the loss of one or more key customer or supplier relationships; changes in customer mix; customer delinquencies, defaults or insolvencies; supplier defaults or insolvencies; changes in pharmaceutical manufacturers' pricing and distribution policies or practices; adverse resolution of any contract or other dispute with customers or suppliers; federal and state government enforcement initiatives to detect and prevent suspicious orders of controlled substances and the diversion of controlled substances; quitam litigation for alleged violations of fraud and abuse laws and regulations and/or any other laws and regulations governing the marketing, sale and purchase of pharmaceutical products or any related litigation, including shareholder derivative lawsuits; changes in U.S. legislation or regulatory action affecting pharmaceutical product pricing or reimbursement policies, including under Medicaid and Medicare; changes in regulatory or clinical medical guidelines and/or labeling for the pharmaceutical products we distribute, including certain anemia products; price inflation in branded pharmaceuticals and price deflation in generics; greater or less than anticipated benefit from launches of the generic versions of previously patented pharmaceutical products; significant breakdown or interruption of our information technology systems; our inability to implement an enterprise resource planning (ERP) system to handle business and financial processes and transactions (including processes and transactions relating to our customers and suppliers) of AmerisourceBergen Drug Corporation and our corporate operations without functional problems, unanticipated delays and/or cost overruns; success of integration, restructuring or systems initiatives; interest rate and foreign currency exchange rate fluctuations; economic, business, competitive and/or regulatory developments in Canada, the United Kingdom and elsewhere outside of the United States, including potential changes in Canadian provincial legislation affecting pharmaceutical product pricing, dispensing or service fees and/or regulatory action by provincial authorities in Canada to lower pharmaceutical product pricing, dispensing or service fees; the impact of divestitures or the acquisition of businesses that do not perform as we expect, are difficult for us to integrate into our business operations or do not adhere to our system of internal controls; our inability to successfully complete any other transaction that we may wish to pursue from time to time; changes in tax legislation or adverse resolution of challenges to our tax positions; increased costs of maintaining, or reductions in our ability to maintain, adequate liquidity and financing sources; volatility and deterioration of the capital and credit markets; and other economic, business, competitive, legal, tax, regulatory and/or operational factors affecting our business generally. Certain additional factors that management believes could cause actual outcomes and results to differ materially from those described in forward-looking statements are set forth (i) in Item 1A (Risk Factors) in the Company's Annual Report on Form 10-K for this Fiscal Year Ended September 30, 2009 and elsewhere in that report and (ii) in other reports filed by the Company pursuant to the Securities Exchange Act of 1934.
SOURCE: AmerisourceBergen Corporation
Barbara Brungess, 610-727-7199