AmerisourceBergen CEO to Take Chairman Role
November 18 2015 - 8:50AM
Dow Jones News
AmerisourceBergen Corp. said Wednesday Chief Executive Steven
Collis will succeed Chairman Richard Gozon next year, and the drug
wholesaler also adopted measures to make it easier for certain
shareholders to nominate directors to the board.
Mr. Collis will take on the chairman role following Mr. Gozon's
retirement at the annual stockholder meeting in March. He has been
chief executive since July 2011 and a director since May 2011.
The company also said Jane Henney will become the board's lead
independent director. She has served as a director since January
2002.
AmerisourceBergen said it has changed its bylaws to allow for
so-called proxy access, joining a growing list of big companies
making similar moves.
The new rules stipulate that a shareholder or group of them who
have owned at least 3% of shares outstanding for three years can
nominate directors to the board—two of them or 20% of the board,
whichever is greater.
Companies have increasingly adopted changes in governance that
are considered more favorable to investors, with proxy-access
provisions being by far the most popular—and successful—in 2015,
according to Institutional Shareholder Services, the biggest U.S.
proxy-advisory firm.
Other companies that have made similar moves include Coca-Cola
Co., Microsoft Corp., General Electric Co., Monsanto Co., Modelez
International Inc., BlackRock Inc. and American International Group
Inc.
Last month, AmerisourceBergen said it has agreed to acquire
PharMEDium Healthcare Holdings Inc., a closely held provider of
personalized medications to hospitals, in an all-cash deal worth
$2.58 billion.
Mr. Collis said the deal—estimated to add between 22 cents and
26 cents to earnings per share in fiscal 2016—would expand the
company's service offerings for health systems, and is expected to
close by the end of this calendar year.
Write to Anne Steele at Anne.Steele@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 18, 2015 08:35 ET (13:35 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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