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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC
20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): March 11, 2024
Cencora, Inc.
(Exact
name of registrant as specified in its charter)
Commission File Number: 1-6671
Delaware |
|
23-3079390 |
(State or other jurisdiction
of |
|
(I.R.S. Employer |
incorporation or organization) |
|
Identification No.) |
|
|
|
1
West First Avenue Conshohocken PA |
|
19428-1800 |
(Address of principal
executive offices) |
|
(Zip Code) |
(610) 727-7000
(Registrant’s telephone number, including
area code)
Not Applicable
(Former name or former address, if changed since
last report.)
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
Trading
Symbol(s) |
Name
of exchange on which registered |
Common stock |
COR |
New York Stock Exchange (NYSE) |
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to
Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 5.02 Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.
On March 11, 2024,
the Board of Directors (the “Board”) of Cencora, Inc. (the “Company”) unanimously selected Robert P. Mauch
to succeed Steven H. Collis as the Company’s President and Chief Executive Officer (“CEO”), effective October 1,
2024 (the “Effective Date”), at which time he will also join the Board. Mr. Collis, who has served as CEO since July 2011,
will retire from the role of CEO and become Executive Chairman of the Board as of the Effective Date, to serve for a period of one year.
Mr. Mauch, age 57,
currently serves as the Company’s Executive Vice President and Chief Operating Officer. He previously served as the Company’s
Group President from February 2019 to September 2022 and as Group President, Pharmaceutical Distribution & Strategic
Global Sourcing from June 2017 to February 2019. Mr. Mauch joined the Company in 2007 when it acquired Xcenda and has since
held various leadership roles.
Mr. Mauch will not
receive any additional compensation for his service on the Board. The Company will file an amendment to this Current Report on Form 8-K
to disclose compensation arrangements relating to the foregoing events within four business days after such information becomes available.
Item 7.01 Regulation
FD Disclosure.
On March 12, 2024,
the Company issued a press release announcing the CEO transition described under Item 5.02 of this Current Report on Form 8-K and
reaffirming its fiscal 2024 guidance as outlined on January 31, 2024. A copy of the press release is furnished as Exhibit 99.1
to this Current Report on Form 8-K.
The information in this
Item 7.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for the purposes
of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities
of that Section and shall not be incorporated by reference into any registration statement or other document filed pursuant to the
Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in such filing.
Item 9.01 Financial
Statements and Exhibits.
(d) Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
Cencora, Inc. |
|
|
|
March 12, 2024 |
By: |
/s/ Elizabeth S. Campbell |
|
|
Name: Elizabeth S. Campbell |
|
|
Title: Executive Vice President and Chief Legal Officer |
Exhibit
99.1
|
Press
Release |
|
|
|
|
|
|
CENCORA
ANNOUNCES LEADERSHIP SUCCESSION PLAN
CEO
Steven H. Collis to Transition to Executive Chair; COO Robert P. Mauch to Become President and CEO
Both
Appointments Effective October 1, 2024
Company
Reaffirms Fiscal Year 2024 Guidance
CONSHOHOCKEN,
PA, March 12, 2024 — Cencora, Inc. (NYSE: COR) today announced that Steven H. Collis will retire as President and
Chief Executive Officer of the Company and transition to the role of Executive Chair of the Cencora Board of Directors, effective October 1,
2024. Robert P. Mauch, PharmD, PhD, current Chief Operating Officer of Cencora, will succeed Collis as President and CEO, and will also
be appointed as a member of the Company's Board, effective the same date.
“Steve’s
30-year career at Cencora has been characterized by purpose-driven leadership, delivering phenomenal growth in domestic and international
markets, diversification of the business, and the successful launch of a global brand that positions the company for even greater success.
Since Steve’s appointment as CEO in 2011, Cencora has delivered tremendous financial growth, with the company’s annual revenue
more than tripling to exceed $250 billion,” said Mark Durcan, Lead Independent Director of Cencora. “Under his leadership,
Cencora has grown into the global healthcare leader it is today with its 46,000 team members spanning over 50 countries. Throughout his
tenure, Steve has been a visionary leader, forging the company’s leadership in specialty while championing team member growth and
development. On behalf of the entire Board, I thank Steve for his considerable contributions to our business, and look forward to
continuing to benefit from his deep industry knowledge and expertise as Executive Chairman,” said Durcan.
“In
my 30 years with Cencora, including 13 years as CEO, it has been my privilege to lead our company as we have delivered robust growth,
made strategic investments and forged key partnerships. I am particularly proud of the position we are in today where Cencora is characterized
by our strong industry leadership position, intellectual confidence, and best-in-class talent and customer relationships,” said
Steven H. Collis, Chairman, President and Chief Executive Officer of Cencora. “Together, the Cencora team has built extraordinary
relationships across our industry, expanded the breadth of our innovative pharmaceutical solutions and grown our global footprint, furthering
our ability to advance our purpose of creating healthier futures. Bob and I have worked closely for nearly two decades, and I am proud
that he will be the third CEO in our company’s 23-year history. He has been an integral partner in shaping and implementing our
strategy and embodies our purpose-driven culture. The company will benefit from his unique background, expertise and proven leadership
as he assumes the role of CEO. I am excited to support Bob and the team as they continue to advance our position at the center of healthcare.”
“Today’s
announcement is consistent with the Board’s deliberate and thoughtful approach to succession planning,” Durcan continued.
“Bob has experience across all aspects of our business and has helped lead Cencora’s evolution to become a united, global
provider of pharmaceutical-centric healthcare solutions. The Board is confident that he will continue to build on Cencora’s momentum
to drive value for our team, customers, partners and shareholders.”
“I
am honored to succeed Steve as President and CEO of Cencora and am appreciative of his leadership and mentorship over the many years
we have worked together,” said Robert P. Mauch, EVP and Chief Operating Officer of Cencora. “Throughout my years at Cencora, I
have been excited and motivated by our teams’ ability to adapt and innovate to address the needs of our partners and I look forward
to continuing to drive our pharmaceutical-centric strategy forward, supported by our talented team members and unwavering commitment
to our purpose.”
Today,
Cencora is also reaffirming its fiscal 2024 guidance as outlined on January 31, 2024.
About
Robert P. Mauch
Bob
Mauch is currently the Executive Vice President and Chief Operating Officer of Cencora, Inc. In this role, he leads all of Cencora’s
domestic and international business units. Bob is focused on building innovative solutions that advance the delivery of pharmaceutical
care, creating a best-in-class customer and partner experience, and ensuring access to life-saving pharmaceutical care for patients globally.
Bob began his more than 30-year career in pharmaceutical care as the founder of Xcenda (formerly Applied Health Outcomes) which provides
health economics as well as strategic and reimbursement consulting to pharmaceutical companies. Bob joined Cencora (formerly AmerisourceBergen)
in 2007 when the company acquired Xcenda. Since joining the company, Bob is credited with leading the company’s transformation
to a united, global provider of pharmaceutical-centered healthcare solutions, driving the company’s continued digital and commercial
transformations, developing and implementing an industry-shaping pricing strategy, and implementing strategies to expand operations globally.
Bob received his Pharm.D. from Mercer University and his Ph.D. in pharmaceutical science from the University of South Carolina where
he pursued a focus in health economics and outcomes research.
About
Cencora
Cencora
is a leading global pharmaceutical solutions organization centered on improving the lives of people and animals around the world. We
partner with pharmaceutical innovators across the value chain to facilitate and optimize market access to therapies. Care providers depend
on us for the secure, reliable delivery of pharmaceuticals, healthcare products, and solutions. Our 46,000+ worldwide team members contribute
to positive health outcomes through the power of our purpose: We are united in our responsibility to create healthier futures. Cencora
is ranked #11 on the Fortune 500 and #24 on the Global Fortune 500 with more than $250 billion in annual revenue. Learn more at investor.cencora.com
| Contacts: | Investors: |
| | Bennett
S. Murphy |
| | Senior
Vice President, Head of Investor Relations & Treasury |
| | 610-727-3693 |
| | Bennett.Murphy@cencora.com |
| | |
| | Media: |
| | Mike
Iorfino |
| | 610-545-9189 |
| | Mike.Iorfino@cencora.com |
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