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.
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 $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.
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. 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
mkilpatric@amerisourcebergen.com
SOURCE: AmerisourceBergen Corporation