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AmerisourceBergen names successor to retiring CEO
March 15th, 2011
VALLEY FORGE, Pa. – R. David Yost, chief executive officer of AmerisourceBergen Corp., is slated to retire from the company this summer and be succeeded by chief operating officer Steven Collis.
The pharmaceutical distributor said late Monday that plans call for Yost to retire on July 1, with the 49-year-old Collis taking the CEO reins on that date.
Yost has been with AmerisourceBergen, which also runs the Good Neighbor Pharmacy drug store franchise, for over three decades and has served as its chief executive for over one decade.
"Ten years after we announced the merger that created AmerisourceBergen, I am announcing my plans to retire," Yost said in a statement. "With our strong position in the growth areas of the pharmaceutical supply chain, generics and specialty pharmaceuticals, I believe the company is exceptionally well-positioned for continued success and that the company's future has never been brighter. With Steve's leadership, I am confident that AmerisourceBergen will take full advantage of the opportunities that lie ahead.
"On a personal note," Yost added, "I am almost 64 years old and have been with the company for almost 37 years and CEO for 14 years. There are many things I'd like to do with my wife, my family and my grandchildren, and other interests I would like to pursue while I am still in good health, and I look forward to getting started on that chapter of my life."
Collis, currently president and COO, is responsible for all AmerisourceBergen business units, including AmerisourceBergen Drug Corp. (ABDC), AmerisourceBergen Specialty Group (ABSG), AmerisourceBergen Consulting Services (ABCS) and AmerisourceBergen Packaging Group (ABPG). Before being promoted to that post last November, he was executive vice president at AmerisourceBergen and president of ABDC, the company's biggest subsidiary, with revenue of more than $60 billion.
During his 17 years with AmerisourceBergen, Collis founded ABSG and was the driving force behind growing the business into a market leader with $16 billion in annual revenue, according to the company.
"Steve's experience and skills make him eminently qualified to be the next CEO of AmerisourceBergen," Yost commented. "The company has great momentum, a seasoned and proven management team, and a superb customer-focused, cost-conscious culture. I have no doubts that Steve will continue to grow our business and provide value to our customers, suppliers, shareholders and our associates."
AmerisourceBergen chairman Richard Gozon applauded Yost's achievements in his years of service at the company and noted that he has set it on course for continued growth.
"Dave has done a superb job during his 14 years as the chief executive officer of AmerisourceBergen and its predecessor company," Gozon stated. "Most notably, he has developed a very talented and results-oriented management team. The board of directors has every confidence that under the leadership of Steve Collis, the company will continue to deliver the outstanding performance that AmerisourceBergen stakeholders have come to expect."