Owens & Minor Names P. Cody Phipps President & Chief Executive Officer, Effective July 1
May 20 2015 - 5:28PM
Business Wire
Proven Service and Logistics Executive to Lead
Continued Expansion of Healthcare Logistics Services
Owens & Minor, Inc. (NYSE:OMI), a leading healthcare
logistics company, today announced that its board of directors has
named P. Cody Phipps, 53, President & Chief Executive Officer,
effective July 1, 2015, at which time he will also join the
company’s board of directors. Phipps most recently served as
President & Chief Executive Officer of United Stationers Inc.,
where he was also a member of the board of directors. Current
President & Chief Executive Officer James L. Bierman, 62, will
retire as President & Chief Executive Officer and resign from
the board, effective July 1, but will continue with the company in
an advisory capacity through the end of 2015. Craig R. Smith, 63,
will continue to serve as Chairman of the Board of Owens &
Minor.
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Owens & Minor (NYSE-OMI) names Cody
Phipps as its new President & Chief Executive Officer,
effective July 1, 2015. (Photo: Business Wire)
“Today's announcement represents the culmination of the board’s
thorough and successful search process for a leader for this
exceptional and critical role,” said Smith. “The company is poised
to benefit from the leadership of a dynamic and strategically
focused executive such as Cody Phipps. On behalf of the board, I
would like to thank Jim Bierman for his eight years of service to
Owens & Minor and the many contributions he has made in
positioning the company for an exciting new chapter of growth.
“Owens & Minor is at an exciting time in its history, as we
have transformed the company into a vital source of logistics
services for the providers and manufacturers that serve the
healthcare industry,” Smith continued. “We are confident that
today’s appointment will accelerate the realization of our
strategic goals. Cody’s demonstrated ability to drive innovation
and efficiency makes him the ideal choice to lead Owens & Minor
through its next phase of growth.”
Phipps noted that he is energized about the future for Owens
& Minor. “I am excited to be joining the Owens & Minor
team, and I look forward to—together—achieving success and creating
enhanced shareholder value while building upon the strong culture
of the company,“ said Phipps.
Outgoing executive Bierman welcomed Phipps to the team, saying,
“I could not be more proud of the nearly 8,000 teammates around the
world who have worked tirelessly to establish Owens & Minor as
a leading global provider of cost-effective supply chain and
logistics solutions for the healthcare industry. I am honored to
have played a part in the company’s growth and evolution, and I am
excited for the future of Owens & Minor under the leadership of
Cody Phipps.”
P. Cody Phipps Biography
Cody Phipps most recently served as President & Chief
Executive Officer of United Stationers Inc., where he was a member
of the board of directors. He joined the company in 2003 as Senior
Vice President, Operations and in 2006 was appointed President,
United Stationers Supply. While at United Stationers, Phipps
oversaw expansion of the business into adjacent products and
services, online channels, and developed enhanced logistics
services for manufacturers, all of which led to improved revenue
growth. Previously, he was a Partner at McKinsey & Company,
Inc., where he co-founded and led its Service Strategy and
Operations Initiative, which focused on driving operational
improvements in complex service and logistics environments. During
his tenure at McKinsey, Phipps provided consulting services to a
range of corporate clients across a diverse set of industries,
including retail, manufacturing and healthcare.
Phipps serves as an Independent Director of Con-way Inc. He
holds a Master’s of Business Administration degree in Finance and
Operations from the University of Chicago Graduate School of
Business and a Bachelor's degree in Mechanical Engineering from The
Ohio State University.
Owens & Minor, Inc. (NYSE: OMI) is a leading
healthcare logistics company dedicated to Connecting the World of
Medical Products to the Point of CareTM by providing vital supply
chain services to healthcare providers and manufacturers of
healthcare products. Owens & Minor provides logistics services
across the spectrum of medical products from disposable medical
supplies to devices and implants. With logistics platforms
strategically located in the United States and Europe, Owens &
Minor serves markets where three quarters of global healthcare
spending occurs. Owens & Minor's customers span the healthcare
market from independent hospitals to large integrated healthcare
networks, as well as group purchasing organizations, healthcare
products manufacturers, and the federal government. A FORTUNE 500
company, Owens & Minor is headquartered in Richmond, Virginia,
and has annualized revenues exceeding $9 billion. For more
information about Owens & Minor, visit the company website at
www.owens-minor.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150520006666/en/
Owens & Minor, Inc.Truitt Allcott, 804-723-7555Director,
Investor & Media Relationstruitt.allcott@owens-minor.comorChuck
Graves, 804-723-7556Director, Finance & Investor
RelationsChuck.graves@owens-minor.com
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