AmerisourceBergen Re-Elects Three Board Members at Annual Meeting of Stockholders
Rodney H. Brady Retires from the Board of Directors
PHILADELPHIA--(BUSINESS WIRE)--Feb. 28, 2008--At the AmerisourceBergen Corporation (NYSE:ABC) annual meeting of stockholders, held today in Philadelphia, Company stockholders re-elected three directors: Charles H. Cotros, Jane E. Henney, M.D., and R. David Yost. Stockholders also ratified the appointment of Ernst & Young as the Company's independent registered public accounting firm for fiscal 2008.
In addition, Rodney H. Brady, 75, retired from the Board of Directors, having been a member of the Board since AmerisourceBergen's inception almost seven years ago and having previously served on the Bergen Brunswig Board of Directors since 1973. During the meeting, AmerisourceBergen's Chief Executive Officer, R. David Yost, gave an overview of the Company's activities and outlook for the coming year.
Mr. Cotros, 70, has been a member of the Board of Directors since 2002. He was Interim Chairman and Chief Executive Officer of Allied Waste Industries, Inc. from October 2004 to May 2005 and has been a Director of Allied since July 2004. Previously, he served as Chairman and Chief Executive Officer of Sysco Corporation from 2000 to 2002, and held a variety of positions at Sysco, including Chief Operating Officer and President.
Dr. Henney, 60, has been an AmerisourceBergen Director since 2002 and also serves as a Director of AstraZeneca PLC and CIGNA Corporation. She is a Professor at the College of Medicine, University of Cincinnati, having served as Senior Vice President and Provost for Health Affairs at the University of Cincinnati from 2003 to January 2008. She previously was Senior Scholar in Residence at the Association of Academic Health Centers in Washington, D.C. from 2001 to 2003. From 1998 to 2001, she was Commissioner of Food and Drugs at the U.S. Food and Drug Administration, where she served as Deputy Commissioner of Operations from 1992 to 1994. From 1994 to 1998, Dr. Henney, who is a medical oncologist, was Vice President of Health Sciences at the University of New Mexico. In the early 1980s, she also held several posts at the National Cancer Institute, including Deputy Director.
Mr. Yost, 60, has been a member of the Board of Directors and the Company's Chief Executive Officer since AmerisourceBergen's inception. He has also been President of AmerisourceBergen since September 2007, a position he also held from 2001 to 2002. In addition, he serves as a Director of Electronic Data Systems Corporation and PharMerica Corporation. Previously, he was Chairman and Chief Executive Officer and a Director of AmeriSource Health Corporation. He also held a variety of other positions at AmeriSource and its predecessor companies after joining the company in 1974, including President and Executive Vice President - Operations.
The AmerisourceBergen Board of Directors is comprised of eight members.
AmerisourceBergen is one of the world's largest pharmaceutical services companies serving the United States, Canada and selected global markets. Servicing both pharmaceutical manufacturers and healthcare providers 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 more than $66 billion in annual revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and employs more than 11,500 people. AmerisourceBergen is ranked #29 on the Fortune 500 list. For more information, go to www.amerisourcebergen.com.
This news 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 following factors, among others, could cause actual results to differ materially from those described in any forward-looking statements: competitive pressures; the loss of one or more key customer or supplier relationships; customer defaults or insolvencies; changes in customer mix; supplier defaults or insolvencies; changes in pharmaceutical manufacturers' pricing and distribution policies or practices; adverse resolution of any contract or other disputes with customers (including departments and agencies of the U.S. Government) or suppliers; regulatory changes (including increased government regulation of the pharmaceutical supply channel); government enforcement initiatives (including (i) the imposition of increased obligations upon pharmaceutical distributors to detect and prevent suspicious orders of controlled substances (ii) the commencement of further administrative actions by the U. S. Drug Enforcement Administration seeking to suspend or revoke the license of any of the Company's distribution facilities to distribute controlled substances, (iii) the commencement of any enforcement actions by any U.S. Attorney alleging violation of laws and regulations regarding diversion of controlled substances and suspicious order monitoring), or (iv) the commencement of any administrative actions by the board of pharmacy of any state seeking to suspend, revoke or otherwise restrict the ability of any of the Company's distribution facilities or businesses to distribute or dispense pharmaceuticals in such state; changes in U.S. government policies (including reimbursement changes arising from federal legislation, including the Medicare Modernization Act and the Deficit Reduction Act of 2005); changes in regulatory or clinical medical guidelines and/or reimbursement practices for the pharmaceuticals we distribute, including erythropoiesis-stimulating agents (ESAs) used to treat anemia patients; price inflation in branded pharmaceuticals and price deflation in generics; fluctuations in market interest rates; operational or control issues arising from the Company's outsourcing of information technology activities; success of integration, restructuring or systems initiatives; fluctuations in the U.S. dollar - Canadian dollar exchange rate and other foreign exchange rates; economic, business, competitive and/or regulatory developments in Canada, the United Kingdom and elsewhere outside of the United States; acquisition of businesses that do not perform as we expect or that are difficult for us to integrate or control; any disruption to or other adverse effects upon the PMSI workers' compensation business caused by the Company's announcement that it is pursuing the sale of PMSI; the inability of the Company to successfully complete the sale of PMSI; the inability of the Company to successfully complete any other transaction that the Company may wish to pursue from time to time; changes in tax legislation or adverse resolution of challenges to our tax positions; and other economic, business, competitive, legal, tax, regulatory and/or operational factors affecting the business of the Company 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 the fiscal year ended September 30, 2007 and elsewhere in that report and (ii) in other reports filed by the Company pursuant to the Securities Exchange Act of 1934.
CONTACT: AmerisourceBergen Corporation, Valley Forge
Michael N. Kilpatric, 610-727-7118
SOURCE: AmerisourceBergen Corporation