Cincinnati, OH, USA - June 11, 2012, Cincinnati, OH, USA - Omnicare, Inc., a pharmaceutical company, announced that it has appointed John L. Workman as interim CEO, effective immediately.
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Mr. Workman's appointment follows the Board's acceptance of John Figueroa's resignation as CEO and a director of the Company.
John G. Figueroa has been the Chief Executive Officer of Omnicare Inc. since January 1, 2011. Mr. Figueroa served as the President of U.S. Pharmaceutical Distribution at McKesson Medical-Surgical, Inc. and since April 1, 2006. He served as the President of U.S. Pharmaceutical Distribution at McKesson Corporation until January 1, 2011.
Mr. Figueroa joined McKesson in 1997 and served as its Sales Executive for McKesson Health Systems. He has worked in the healthcare industry for more than 20 years. He held a number of different positions at McKesson, including President of National Account Sales and Packaging and Senior Vice President of the Southwest Region. He served as Regional Vice President for the Western Region of U.S. Pharmaceutical Distribution.
Since 2002, he served as President of Retail National Accounts, a position in which he strengthened McKesson's relationships and market share among retail drug chains, mass merchandisers and food-drug retailers. He served as a Sales Executive at Baxter International (alternate name Baxter Healthcare Corporation). He has served as an Officer in the United States Army. He serves as the Vice Chairman and Member of the Board of Governors at GS1 US, Inc. He has been a Director at Reliance Steel & Aluminum Co. since October 1, 2010. He has been a Director of Omnicare Inc. since January 1, 2011.
Mr. Figueroa received an M.B.A. degree from Pepperdine University and B.A. degrees in Political Science and English Literature from the University of California at Los Angeles.
Mr. Workman has served as Chief Financial Officer since November 2009 and was appointed President in February 2011. From 2004 to 2009, he served as Executive Vice President and Chief Financial Officer of HealthSouth Corporation as a key member of the team that transformed the operations of HealthSouth. Prior to joining HealthSouth, Mr. Workman served as Chief Executive Officer of U.S. Can Corporation where he also served as Chief Operating Officer and Chief Financial Officer during his six year tenure.
Before that, Mr. Workman spent more than 14 years with Montgomery Ward & Company, Inc., serving in various capacities, including Chief Financial Officer and Chief Restructuring Officer. Mr. Workman began his career with the public accounting firm KPMG, where he was a partner.
A certified public accountant, Mr. Workman received a bachelor's degree in Accounting from Indiana University and an M.B.A. from the University of Chicago. Mr. Workman will also maintain his current responsibilities as President and CFO.
The Company also has appointed Nitin Sahney, Executive Vice President and President, Specialty Care Division, to the additional position of Chief Operating Officer. Mr. Sahney's appointment is effective immediately.
Mr. Sahney rejoined Omnicare in November 2010 as the Executive Vice President & President of Specialty Care Group, which services the specialty pharmaceutical market. Prior to joining Omnicare, Mr. Sahney had been managing a healthcare investment fund and advising executives at publicly traded healthcare services firms and private equity groups, both domestically and abroad.
Mr. Sahney led the evolution and development of RxCrossroads from a wholesale and distribution operation to one of the nation's best regarded and fastest growing specialty pharmaceutical services companies and continued to serve as RxCrossroads' President & CEO, following its acquisition by Omnicare in 2005. Prior to his involvement with RxCrossroads, he held a variety of senior management positions with Cardinal Healthcare. ■