- Drug distributor Cardinal Health ( NYSE: CAH ) announced Thursday that Debbie Weitzman, current President of its Pharmaceutical Distribution, will become the Chief Executive of its Pharmaceutical Segment.
- The appointment coincides with the resignation of the current CEO of the pharma division Victor Crawford effective Sep. 19. Crawford will remain with the company until Nov. 17 to support the leadership transition.
- CAH will no longer have the role of President of Pharmaceutical Distribution. The company has also reorganized its structure, with both Pharmaceutical and Specialty Distribution businesses now directly reporting to Weitzman.
- "I believe this new design will allow us to have added focus on specialty distribution, which is a key growth area for the company, as well as simplify how our customers and manufacturers work with us," CAH CEO Jason Hollar said.
- The announcement comes days after the company disclosed several initiatives to create shareholder value following an agreement with activist investor Elliott Investment Management L.P.
- Pharmaceutical Segment, CAH's largest business division, added $165.5B in revenue for fiscal 2022 with ~14% YoY growth.
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Cardinal Health announces leadership changes at pharma segment