DUBLIN, Ohio, Sept. 24 /PRNewswire-FirstCall/ -- Cardinal Health, a
global provider of products and services that improve the safety and
productivity of health care, today announced President and Chief Executive
Officer (CEO) R. Kerry Clark will become chairman and CEO, effective Nov. 8
following the company's 2007 annual shareholder meeting. Clark, 55,
succeeds Cardinal Health founder Robert D. Walter, 62, who plans to retire
at the end of the company's 2008 fiscal year.
Since joining Cardinal Health in April 2006, Clark has continued the
company's focus on serving health-care providers, divested businesses that
fell outside this focus, acquired several companies to complement and grow
core businesses and implemented organizational changes to improve
operational performance.
Walter will serve as executive director until June 30, 2008, after
which he will retire from the company but remain on the board.
"The time is right for Kerry to become chairman," Walter said. "Our
transition has gone extremely well and the company is thriving under
Kerry's leadership. I'm as confident as ever about Cardinal Health and its
future."
John B. McCoy, presiding director of the board, said "Bob has worked
closely with the board for many years to plan for his succession. We are
grateful for his many years of service to Cardinal Health shareholders and
are pleased with the direction Kerry is leading the company. Kerry is
building on a strong foundation to create long-term value for Cardinal
Health customers, employees and shareholders."
The chairmanship transition marks another milestone in Walter's
distinguished career. As the longest-tenured chairman of a company the size
of Cardinal Health, Walter grew the business from a small, regional food
distributor to a diversified provider of health-care products and services
and one of the largest companies in the world. An investment of $10,000 in
Cardinal Health stock at the time of its public offering in 1983 would be
worth $8.2 million in 2007, an appreciation of more than 80,000 percent.
About Cardinal Health
Headquartered in Dublin, Ohio, Cardinal Health, Inc. (NYSE: CAH) is an
$87 billion, global company serving the health-care industry with products
and services that help hospitals, physician offices and pharmacies reduce
costs, improve safety, productivity and profitability, and deliver better
care to patients. With a focus on making supply chains more efficient,
reducing hospital-acquired infections and breaking the cycle of harmful
medication errors, Cardinal Health develops market-leading technologies,
including Alaris(R) IV pumps, Pyxis(R) automated dispensing systems,
MedMined(R) data mining services and the CareFusion(TM) patient
identification system. The company also manufactures medical and surgical
products and is one of the largest distributors of pharmaceuticals and
medical supplies worldwide. Ranked No. 19 on the Fortune 500 and No. 1 in
its sector on Fortune's ranking of Most Admired firms, Cardinal Health
employs more than 40,000 people on five continents. More information about
the company may be found at http://www.cardinalhealth.com.
Cautions Concerning Forward-Looking Statements
This news release contains forward-looking statements addressing
expectations, prospects, estimates and other matters that are dependent
upon future events or developments. These matters are subject to risks and
uncertainties that could cause actual results to differ materially from
those projected, anticipated or implied. The most significant of these
uncertainties are described in Cardinal Health's Form 10-K, Form 10-Q and
Form 8-K reports (including all amendments to those reports) and exhibits
to those reports, and include (but are not limited to) the following:
competitive pressures in its various lines of business; the loss of one or
more key customer or supplier relationships or changes to the terms of
those relationships; uncertainties relating to the timing of generic
introductions and the frequency or rate of pharmaceutical price
appreciation; changes in the distribution patterns or reimbursement rates
for health-care products and/or services; the results, consequences,
effects or timing of any inquiry or investigation by any regulatory
authority or any legal and administrative proceedings; uncertainties
related to finalizing the pending settlement of the class-action securities
litigation, including obtaining court approval of the settlement;
successful integration of Cardinal Health and VIASYS Healthcare and the
ability to achieve synergies from the acquisition; and general economic and
market conditions. This news release reflects management's views as of
September 24, 2007. Except to the extent required by applicable law,
Cardinal Health undertakes no obligation to update or revise any forward-
looking statement.
SOURCE Cardinal Health
 back to top
Related links:
http://www.cardinalhealth.com
CONTACT:
Media, Jim Mazzola, +1-614-757-3690,
jim.mazzola@cardinalhealth.com; Investors, Bob Reflogal,
+1-614-757-7542, bob.reflogal@cardinalhealth.com, both of
Cardinal Health
|
