VALLEY FORGE, Pa., May 11, 2006 (BUSINESS WIRE) -- AmerisourceBergen Corporation (NYSE:ABC) today announced
that Michael J. Long, 47, has been elected to its Board of Directors.
The election, effective today, expands the AmerisourceBergen board
from nine to ten members.
Long is Senior Vice President and President, North America and
Asia/Pacific Components for Arrow Electronics, Inc (NYSE:ARW), an $11
billion global distributor of electronic components and computer
products. He joined Arrow in 1990, when the company merged with
Schweber Electronics, Inc. In 1994, Long was President, Capstone
Electronics, an Arrow company and from 1995 to 1999, he was President,
Gates/Arrow Distributing. From 1998 until 2005 when he was named to
his current position, he was President and Chief Operating Officer of
Arrow North American Computer Products.
As a result of his business success, Long was named one of
Computer Resellers News' "Top 25 Executives" in both 2002 and 2004.
"Long's understanding of distribution, his commitment to
innovation and his proven leadership make him an excellent addition to
the Board," said Richard C. Gozon, Chairman of the Board of
AmerisourceBergen.
R. David Yost, Chief Executive Officer of AmerisourceBergen,
added, "His strong management background in a highly competitive
distribution business and his broad executive experience are valuable
additions to the Company."
Long is active in the Global Peer Networking Group, Young
Presidents' Organization and serves on the Board of Directors of the
Denver Zoo.
He received his Bachelor of Business Administration from the
University of Wisconsin, Whitewater, and attended the Milwaukee School
of Engineering.
About AmerisourceBergen
AmerisourceBergen (NYSE:ABC) 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 pharmacy services for skilled nursing
and assisted living facilities, reimbursement and pharmaceutical
consulting services, and physician education. With more than $54
billion in annual revenue, AmerisourceBergen is headquartered in
Valley Forge, PA, and employs more than 13,000 people.
AmerisourceBergen is ranked #27 on the Fortune 500 list. For more
information, go to www.amerisourcebergen.com.
Forward-Looking Statements
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. Forward-looking statements may include statements
addressing AmerisourceBergen's future financial and operating results
and the benefits, efficiencies and savings to be derived from the
Company's integration plans to consolidate its distribution network.
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; changes in U.S. government policies
(including reimbursement changes arising from the Medicare
Modernization Act); further declines in the amounts of market share
rebates offered by pharmaceutical manufacturers to the PharMerica
long-term care business and/or the inability of the business to offset
the rebate reductions that have already occurred, market interest
rates; operational or control issues arising from AmerisourceBergen's
outsourcing of information technology activities; the Pharmaceutical
Distribution segment's ability to continue to successfully transition
its business model to fee-for-service; 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; and other economic,
business, competitive, legal, regulatory and/or operational factors
affecting the business of AmerisourceBergen generally.
More detailed information about these and other risk factors is
set forth in AmerisourceBergen's filings with the Securities and
Exchange Commission, including its Annual Report on Form 10-K for
fiscal 2005.
AmerisourceBergen is under no obligation to (and expressly
disclaims any such obligation to) update or alter any forward looking
statements whether as a result of new information, future events or
otherwise.
SOURCE: AmerisourceBergen Corporation
AmerisourceBergen Corporation
Michael N. Kilpatric, 610-727-7118
[email protected]