VALLEY FORGE, Pa.--(BUSINESS WIRE)--Sep. 8, 2015--
AmerisourceBergen Corporation (NYSE:ABC) today announced that its Board
of Directors has elected D. Mark Durcan, 54, to its Board of Directors,
effective immediately. Mr. Durcan fills the vacancy created by Edward E.
Hagenlocker’s retirement at the annual meeting of stockholders on March
5, 2015.
Mr. Durcan is currently the Chief Executive Officer and a director of
Micron Technology, Inc., a global leader in advanced semiconductor
systems. Mr. Durcan, a 30-year veteran of Micron, has served as Chief
Executive Officer and a director since February 2012. He served as
President from June 2007 until February 2012, during which time he
continued in his role as Chief Operating Officer, a position he assumed
in February 2006. He served as Chief Technology Officer from June 1997
to February 2006. Before his appointment as Chief Technology Officer, he
held various other positions with Micron and its subsidiaries.
During Mr. Durcan’s tenure as Chief Executive Officer, Micron has become
one of the largest chip makers in the world. Under his leadership,
Micron has driven its next-generation technologies to market and
expanded its global presence and capabilities, developing and
maintaining long-standing partnerships with industry leaders, such as
Intel, and completing strategic acquisitions all over the world.
Mr. Durcan currently serves on the Board of Directors of Freescale
Semiconductor, Ltd., the Semiconductor Industry Association Board and
the Tech CEO Council. He is the Chairman of the Micron Technology
Foundation, Inc., which was formed to advance science, technology,
engineering, and math (STEM) education and support civic and charitable
institutions in the communities in which Micron employees live and work.
Mr. Durcan previously served on the board of MWI Veterinary Supply, Inc.
“Mark’s understanding of international markets and his experience
managing global manufacturing, procurement and supply chain activities
combined with his expertise in technology make him an excellent addition
to our Board,” said Richard C. Gozon, Chairman of the Board of
AmerisourceBergen.
Added Steven H. Collis, President and Chief Executive Officer of
AmerisourceBergen, “Mark is recognized for his strategic vision and
focus on technology innovation to drive growth in a highly competitive
industry, as well as his success and personal commitment to fostering
international partnerships and joint ventures to expand the footprint of
a U.S.-based business in key markets all over the world. Mark’s insights
will be invaluable as we pursue our long-range plans to increase our
international presence and invest in technology to enhance supply chain
efficiency and security.”
Mr. Durcan earned both bachelor’s and master’s degrees in chemical
engineering from Rice University.
About AmerisourceBergen
AmerisourceBergen is one of the largest global pharmaceutical sourcing
and distribution services companies, helping both healthcare providers
and pharmaceutical and biotech manufacturers improve patient access to
products and enhance patient care. With services ranging from drug
distribution and niche premium logistics to reimbursement and
pharmaceutical consulting services, AmerisourceBergen delivers
innovative programs and solutions across the pharmaceutical supply
channel in human and animal health. With over $120 billion in annual
revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and
employs approximately 16,000 people. AmerisourceBergen is ranked #16 on
the Fortune 500 list. For more information, go to www.amerisourcebergen.com.
AmerisourceBergen's Cautionary Note Regarding Forward-Looking
Statements
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. Words such as "expect," "likely," "outlook," "forecast," "would,"
"could," "should," "can," "will," "project," "intend," "plan,"
"continue," "sustain," "synergy," "on track," "believe," "seek,"
"estimate," "anticipate," "may," "possible," "assume," variations of
such words, and similar expressions are intended to identify such
forward-looking statements. These statements are based on management's
current expectations and are subject to uncertainty and change in
circumstances. These statements are not guarantees of future performance
and are based on assumptions that could prove incorrect or could cause
actual results to vary materially from those indicated. Among the
factors that could cause actual results to differ materially from those
projected, anticipated, or implied are the following: competition;
industry consolidation of both customers and suppliers resulting in
increasing pressure to reduce prices for our products and services;
changes in pharmaceutical market growth rates; price inflation in
branded and generic pharmaceuticals and price deflation in generics;
declining economic conditions in the United States and abroad; financial
market volatility and disruption; substantial defaults in payment,
material reduction in purchases by or the loss, bankruptcy or insolvency
of a major customer; the loss, bankruptcy or insolvency of a major
supplier; changes to the customer or supplier mix; the retention of key
customer or supplier relationships under less favorable economics or the
adverse resolution of any contract or other dispute with customers or
suppliers; interest rate and foreign currency exchange rate
fluctuations; the disruption of AmerisourceBergen's cash flow and
ability to return value to its stockholders in accordance with its past
practices; risks associated with the strategic, long-term relationship
between Walgreen Boots Alliance, Inc. and AmerisourceBergen, including
with respect to the pharmaceutical distribution agreement and/or the
global sourcing joint venture; risks associated with the potential
impact on AmerisourceBergen's earnings per share resulting from the
issuance of the warrants to subsidiaries of Walgreen Boots Alliance,
Inc. (the "Warrants"); AmerisourceBergen's inability to implement its
hedging strategy to mitigate the potentially dilutive effect of the
issuance of its common stock in accordance with the Warrants under its
special share repurchase program due to its financial performance, the
current and future share price of its common stock, its expected cash
flows, competing priorities for capital, and overall market conditions;
changes in the United States healthcare and regulatory environment;
increasing governmental regulations regarding the pharmaceutical supply
channel; federal and state government enforcement initiatives to detect
and prevent suspicious orders of controlled substances and the diversion
of controlled substances; federal and state prosecution of alleged
violations of related laws and regulations, and any related litigation,
including shareholder derivative lawsuits or other disputes relating to
our distribution of controlled substances; increased federal scrutiny
and qui tam litigation for alleged violations of fraud and abuse laws
and regulations and/or any other laws and regulations governing the
marketing, sale, purchase and/or dispensing of pharmaceutical products
or services and any related litigation; material adverse resolution of
pending legal proceedings; declining reimbursement rates for
pharmaceuticals; the acquisition of businesses that do not perform as
expected, or that are difficult to integrate or control, including the
integration of recently-acquired MWI or ability to capture all of the
anticipated synergies related thereto; managing foreign expansion,
including non-compliance with the U.S. Foreign Corrupt Practices Act,
anti-bribery laws and economic sanctions and import laws and
regulations; malfunction, failure or breach of the sophisticated
information systems to operate as designed; risks generally associated
with data privacy regulation and the international transfer of personal
data; changes in tax laws or legislative initiatives that could
adversely affect AmerisourceBergen's tax positions and/or
AmerisourceBergen's tax liabilities or adverse resolution of challenges
to AmerisourceBergen's tax positions; natural disasters or other
unexpected events that affect AmerisourceBergen's operations; and other
economic, business, competitive, legal, tax, regulatory and/or
operational factors affecting AmerisourceBergen's 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)
and Item 1 (Business) in the Company’s Annual Report on Form 10-K for
the fiscal year ended September 30, 2014 and elsewhere in that report
and (ii) in other reports.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150908005354/en/
Source: AmerisourceBergen Corporation
AmerisourceBergen Corporation
Barbara Brungess,
610-727-7199
Vice President, Corporate & Investor Relations
bbrungess@amerisourcebergen.com