Hilzinger resigns from AmerisourceBergen

VALLEY FORGE, Pa. AmerisourceBergen’s Kurt Hilzinger has resigned his position as the wholesaler’s president and chief operating officer to join a private equity firm, the company announced Monday morning.

Current chief executive officer Dave Yost will assume the role of president. The role of chief operating officer will remain vacated.

“Kurt has made a huge contribution to AmerisourceBergen and its legacy companies in the 16 years we have worked together, and the company would not be in its current strong position without his leadership, hard work and insights,” stated Yost. “I will miss Kurt on both a professional and personal level, and wish him all the best at his new firm.”

“With the recent spin off of our institutional pharmacy business, which represented nearly 25 percent of our associates, and the need to evolve our information technology platform, we had been reviewing our future organizational structure for some time,” Yost said. “Subsequently, with the resignation of Kurt, we have finalized an organization which will create the future infrastructure and cost structure that ensures we will continue to increase our efficiency and effectiveness.”

As part of those organizational changes, Steven Collis has been promoted to executive vice president of AmerisourceBergen and continues as president of AmerisourceBergen Specialty Group reporting to Yost. He adds new responsibilities for shaping the company’s policies and strategies and for more closely integrating the Specialty Group across AmerisourceBergen.

Michael D. DiCandilo will continue as executive vice president and chief financial officer, and adds additional responsibilities. Reporting directly to DiCandilo under his added responsibilities are Thomas Murphy, senior vice president and chief information officer; Ed Hancock, president of AmerisourceBergen Packaging Group; and Mark Hollifield, president PMSI, AmerisourceBergen’s workers’ compensation services business.

Terrance Haas has been promoted to executive vice president and chief integration officer, leaving his position as senior vice president and president of AmerisourceBergen Drug Corporation. In his new role, which reports to Yost, he will lead the multi-year implementation of an Enterprise Resource Planning information technology system for the Drug Corporation within the company’s current capital and expense structure. Haas successfully led the company’s multi-year distribution network integration following the merger that created AmerisourceBergen.

Yost assumes direct leadership of AmerisourceBergen Drug Corporation with the executives heading sales and marketing, supply chain management, and operations functions reporting directly to him.

Joining the AmerisourceBergen executive management committee, which already includes Yost, Collis, Haas and DiCandilo, will be John Chou, senior vice president, general counsel and secretary, and Jeanne Fisher, senior vice president, human resources. Chou and Fisher will also become executive officers of the company.

“We are very excited about the future of our industry and the role of AmerisourceBergen in that industry,” said Yost. “Our diluted earnings per share from continue operations expectations for fiscal year 2007 remain unchanged in a range of $2.50 to $2.58, including a net benefit of $0.05 from special items. This range reflects the spin off of our institutional pharmacy business, which becomes a discontinued operation for the full year.”

Commenting on fiscal year 2008, Yost said, “We are still completing our planning for the coming fiscal year, and as is our practice, we will provide guidance for FY 2008 when we release our fiscal year 2007 results on November 1, 2007. I am very optimistic about fiscal year 2008, and expect our performance to be in line with our long-term financial goals.”

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