VALLEY FORGE, Pa., Jul 01, 2011 (BUSINESS WIRE) --
AmerisourceBergen Corporation (NYSE: ABC), in accordance with its
previously announced succession plan, today announced that Steven H.
Collis, 50, has been appointed as the President and Chief Executive
Officer of AmerisourceBergen Corporation. Collis succeeds R. David Yost,
63, who retired from his role as Chief Executive Officer and stepped
down from the Company's Board of Directors, effective as of July 1, 2011.
"On behalf of our entire Company, I thank Dave for his 37 years of
extraordinary service to AmerisourceBergen, and for his gracious support
during the leadership transition," said Collis. "I am both humbled and
honored to be the leader of such a high-performing Company. I believe
with our momentum, our position in growing markets, our talented and
seasoned management team, and our dedication to efficiency and
innovative customer service, we will continue to drive success by
growing our business and providing value to our customers, suppliers,
shareholders and our associates."
"I congratulate Steve on his well-deserved promotion to President and
Chief Executive Officer of AmerisourceBergen," said Richard C. Gozon,
Chairman of the Board of AmerisourceBergen. "Steve's demonstrated
leadership, his deep knowledge of the industry, and his commitment to
excellence have given the Board every confidence that the Company will
continue to deliver the outstanding performance that AmerisourceBergen
stakeholders have come to expect."
Collis previously served as President and Chief Operating Officer,
responsible for all AmerisourceBergen business units including
AmerisourceBergen Drug Corporation (ABDC), AmerisourceBergen Specialty
Group (ABSG), AmerisourceBergen Consulting Services (ABCS), and
AmerisourceBergen Packaging Group (ABPG). Before being promoted to that
position in November 2010, Collis was Executive Vice President of
AmerisourceBergen and President of ABDC, the Company's largest
subsidiary with revenues over $60 billion. Over his 17 year tenure with
the Company, Collis was the driving force behind growing and developing
ABSG into the market-leader it is today, with $16 billion in annualized
revenues.
The Company's Board of Directors currently consists of nine members,
including Collis, who was elected to serve on the Board in May 2011.
About AmerisourceBergen
AmerisourceBergen is one of the world's largest pharmaceutical services
companies serving the United States, Canada and selected global markets.
Servicing both healthcare providers and pharmaceutical manufacturers 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 $79 billion in annualized
revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and
employs approximately 10,000 people. AmerisourceBergen is ranked #27 on
the Fortune 500 list. For more information, go to www.amerisourcebergen.com.
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. These statements are based on management's current expectations
and are subject to uncertainty and change in circumstances. Among the
factors that could cause actual results to differ materially from those
projected, anticipated or implied are the following: 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; quitam litigation for alleged violations of
fraud and abuse laws and regulations and/or any other laws and
regulations governing the marketing, sale and purchase of pharmaceutical
products or any related litigation, including shareholder derivative
lawsuits; changes in federal and state 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 pharmaceutical products we
distribute, including certain anemia products; price inflation in
branded pharmaceuticals and price deflation in generics; greater or less
than anticipated benefit from launches of the generic versions of
previously patented pharmaceutical products; significant breakdown or
interruption of our information technology systems; our inability to
continue to implement an enterprise resource planning (ERP) system to
handle business and financial processes and transactions (including
processes and transactions relating to our customers and suppliers) of
AmerisourceBergen Drug Corporation operations and our corporate
functions as intended without functional problems, unanticipated delays
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 changes and/or potential changes in Canadian
provincial legislation affecting pharmaceutical product pricing or
service fees or regulatory action by provincial authorities in Canada 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; volatility and deterioration of the
capital and credit markets; and other economic, business, competitive,
legal, tax, regulatory and/or operational factors affecting our 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) in the Company's Annual Report on Form 10-K for the
Fiscal Year Ended September 30, 2010 and elsewhere in that report and
(ii) in other reports filed by the Company pursuant to the Securities
Exchange Act of 1934.
SOURCE: AmerisourceBergen Corporation
AmerisourceBergen Corporation
Barbara Brungess
610-727-7199; 800-829-3132, ext 7199
bbrungess@amerisourcebergen.com