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AmerisourceBergen Operating Chief Resigns

Reuters
Monday, 17 Sep 2007 | 9:34 AM ET

Drug distributor AmerisourceBergen on Monday said Kurt Hilzinger resigned as chief operating officer and director to join a private equity firm and will not be replaced.

The company also announced a series of management changes intended to boost efficiency following the recent spin-off of its institutional pharmacy business PharMerica, which represented nearly 25 percent of its staff.

AmerisourceBergen said it still expects fiscal 2007 earnings per share from continuing operations of $2.50 to $2.58, including a net benefit of 5 cents from special items.

The outlook includes the spinoff, which will become a discontinued operation for the full year.

The Valley Forge, Pennsylvania-based company also said it expects fiscal 2008 results to be in line with its long-term financial goals.

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