Cardinal Health CFO to retire
DUBLIN, Ohio — Cardinal Health on Wednesday announced that CFO Jeff Henderson will retire following the completion of fiscal year 2015, after a decade in the role. Henderson will remain as an employee until his retirement to ensure a seamless transition.
"Jeff has been a terrific partner to me in helping shape the direction and the performance of Cardinal Health," stated George Barrett, chairman and CEO Cardinal Health. "Jeff joined the company at a critical juncture in 2005 and played a central role in the repositioning of the company to serve a fast-changing global healthcare landscape. During his tenure, Jeff transformed the capabilities and effectiveness of our finance organization and demonstrated a deep commitment to growing shareholder value. In addition, he has also successfully led several Cardinal Health businesses, including most recently, our rapidly growing business in China. Our team thanks him for his many contributions, and I look forward to working with him to ensure a smooth transition as we move through the coming fiscal year."
The company will evaluate both internal and external candidates, with the anticipation of naming a successor by the end of calendar 2014.
Family Dollar announces shareholder rights plan
MATTHEWS, N.C. — Family Dollar has adopted a one-year shareholder rights plan to prevent investors from gaining sizable control of the company. The move follows the disclosure on Friday that activist investor Carl Icahn has amassed a 9.39% stake in the retailer over the past two months, making him its largest shareholder.
In the filing on Friday, Icahn said he plans to push Family Dollar management to explore strategic changes, and that he might also seek board seats.
All of the company’s directors voted in favor of the adoption of the rights plan, other than Edward Garden who voted against it.
The plan, which has a 10% trigger, is not designed to prevent an offer to acquire the retailer, but to allow its board "adequate time to consider any and all alternatives," the company stated on Monday.
“We are committed to driving value for all Family Dollar shareholders and will continue to take actions to achieve this important objective,” the company said. lcahn told Reuters on Monday that the poison pill is a ‘quintessential example’ of attorneys ‘simply earning fees.’ He added that the poison pill ‘puts a damper’ on prospects for a ‘friendly dialogue’ with Family Dollar executives.
McKesson Canada names new president
SAINT-LAURENT, Quebec – McKesson Canada on Monday announced the appointment of its new president, Alain Champagne. Champagne was previously McKesson Canada's SVP pharmaceutical distribution and operations since joining the company in 2010. In this capacity, he was responsible for all sales and marketing activities of distribution solutions and services. Under his leadership, McKesson Canada has made significant strides in pushing forward the automation of its distribution network while increasing productivity, McKesson Canada reported.
"Alain brings a deep knowledge of McKesson Canada's business and customers to his new role and will focus on continuing to bring value and growth opportunities to all the company's partners," stated Paul Julian, McKesson EVP and group president.
Champagne assumes the position from Nick Loporcaro, who has been appointed as president for McKesson Specialty Health, one of McKesson Corporation's key growing businesses.
In addition, Paula Keays, McKesson Canada's current CFO will become SVP pharmaceutical distribution and operations, succeeding Champagne. Since joining McKesson Canada in 2000, Keays has been in charge of McKesson Canada's overall financial plans and policies, along with overseeing all Six Sigma operations.