VALLEY FORGE, Pa.--(BUSINESS WIRE)--Aug. 17, 2009--
AmerisourceBergen Corporation (NYSE: ABC) today announced organizational
changes, effective September 1, 2009, to better position the Company to
continue to achieve its long-term financial goals.
Steven H. Collis will become Executive Vice President AmerisourceBergen
and President of AmerisourceBergen Drug Corporation (ABDC), the
Company’s largest subsidiary. Collis was previously Executive Vice
President and President of AmerisourceBergen Specialty Group (ABSG). He
led ABSG from a start-up company in 1994 to the approximately $15
billion subsidiary it is today. In his new role, he will lead the ABDC
organization. He continues to report directly to R. David Yost,
President and Chief Executive Officer of AmerisourceBergen Corporation.
“ABDC has been very successful since we began running it with Executive
Vice President and Chief Financial Officer Mike DiCandilo leading
operations and me leading sales and marketing,” said Yost. “To drive
future performance, we are consolidating those functions under one
leader, and I am very pleased that Steve Collis will be applying his
substantial management talent to lead ABDC. At the same time, Mike
DiCandilo will continue his corporate role with ABDC in finance, supply
chain management and our very important Business Transformation ERP
project. The result will be an even more focused organization.”
Michael D. DiCandilo, continues as Executive Vice President and Chief
Financial Officer of AmerisourceBergen, with on-going responsibility for
all corporate financial operations, supply chain management,
AmerisourceBergen Packaging Group, and information technology, including
the Company’s Business Transformation ERP project. He continues to
report directly to Yost.
Michael A. Mullen will lead ABSG as Chief Operating Officer,
AmerisourceBergen Specialty Group, also reporting directly to Yost.
Prior to his new assignment, Mullen, who has been with ABSG for six
years, was President of Distribution Services at ABSG, previously served
as the chief financial officer for the subsidiary, and has been a key
force behind the long-running success of ABSG.
About AmerisourceBergen
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 $70 billion in annual
revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and
employs approximately 10,000 people. AmerisourceBergen is ranked #26 on
the Fortune 500 list. For more information, go to www.amerisourcebergen.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements about
AmerisourceBergen’s future business and financial performance, estimates
and prospects. 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: 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; 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 pharmaceuticals we distribute, including certain anemia
products; price inflation in branded pharmaceuticals and price deflation
in generics; 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 within
AmerisourceBergen Drug Corporation’s operations and our corporate
functions without operating problems 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 or regulatory action to lower
pharmaceutical product pricing and service fees; the impact of
divestitures or the acquisition of businesses that do not perform as we
expect or that are difficult for us to integrate or control; 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; continued volatility, and further
deterioration of the capital and credit markets; and other economic,
business, competitive, legal, tax, regulatory and/or operational factors
affecting our business generally. Our most recent annual report
on Form 10-K, quarterly reports on Forms 10-Q and current reports 8-K
(which we may revise or supplement in future reports filed to the SEC)
provide additional information about these risks, uncertainties and
other matters. We do not undertake to update our forward-looking
statements.
Source: AmerisourceBergen Corporation
AmerisourceBergen Corporation
Michael N. Kilpatric
610-727-7118
mkilpatric@amerisourcebergen.com