Company Also Announces New Board Committee Assignments; Declares Regular
Quarterly Dividend
DUBLIN, Ohio, Nov. 7 /PRNewswire-FirstCall/ -- Following its annual
meeting today, Cardinal Health, a global provider of products and services
that improve the safety and productivity of health care, released
preliminary results of shareholder voting, announced new committee
assignments for its board of directors and declared its 93rd consecutive
quarterly dividend.
In addition, as previously announced, R. Kerry Clark was named chairman
and CEO effective tomorrow, and Robert L. Gerbig retired from the board of
directors.
"We are grateful for Bob Gerbig's 32 years of dedicated service as a
director of Cardinal Health," said Clark. "Bob's guidance has helped
Cardinal Health evolve from a regional food distributor in 1975 into the
diversified global health care company we are today."
Based on preliminary results of shareholder voting, 10 directors were
reelected to the board, the company's external auditor was ratified and
management proposals were approved to reduce certain supermajority voting
requirements and implement a new non-employee director equity incentive
plan. Two shareholder proposals failed to pass.
In addition, the board of directors approved the following
appointments, effective today:
-- J. Michael Losh, retired chairman, Metaldyne Corporation, was
appointed chair of the Audit Committee and a member of the Executive
Committee;
-- Gregory B. Kenny, president and chief executive officer, General Cable
Corporation, was appointed to the Human Resources and Compensation
Committee and will no longer serve on the Audit Committee;
-- John B. McCoy, retired chairman and chief executive officer, Bank One
Corporation, was appointed chair of the Nominating and Governance
Committee; and
-- Richard C. Notebaert, retired chairman and chief executive officer,
Qwest Communications International Inc., was selected Presiding
Director.
The board of directors also approved a regular quarterly dividend of
$0.12 per share, payable on Jan. 15, 2008 to shareholders of record on Jan.
1, 2008. For more than 23 years, Cardinal Health has paid a quarterly
dividend to shareholders. The company had approximately 362 million shares
outstanding as of Nov. 1.
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(TM) infection surveillance service, VIASYS(R) respiratory care
products 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.
SOURCE Cardinal Health, Inc.
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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, Inc.
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