AmerisourceBergen CFO DiCandilo resigns

AmerisourceBergen CFO DiCandilo leaves to pursue other interests; Guttman named acting CFO

Associated Press

VALLEY FORGE, Pa. (AP) -- Prescription drug distributor AmerisourceBergen Corp. said Monday that Chief Financial Officer Michael DiCandilo left the company to pursue other interests.

The company said DiCandilo, 51, resigned effective immediately. Corporate Controller Tim Guttman will be its acting CFO. AmerisourceBergen said it has hired an executive search firm to help select a permanent replacement for DiCandilo, who had had been its CFO for since March 2002 and worked at AmerisourceBergen for 21 years.

Citi Investment Research analyst George Hill said the timing of the departure is "somewhat concerning," and added he thinks new CEO Steve Collis is installing his own management team. Collis became CEO of AmerisourceBergen in July.

The company also backed its profit outlook for the current fiscal year. AmerisourceBergen expects to earn between $2.74 and $2.84 per share for the 12 month-period ending in March. Analysts surveyed by FactSet are forecasting $2.81 per share, on average.

Shares of AmerisourceBergen fell $1.50, or 3.9 percent, to $37.10 in afternoon trading. Over the past year, shares have traded between $34.33 and $43.47.

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