Wholesale drug distributor AmerisourceBergen Corp. (ABC) said Friday it has appointed Tim Guttman as senior vice president and chief financial officer with immediate effect. He had been serving as the company's acting CFO since February 13, 2012, following the resignation of Michael DiCandilo as CFO.
Guttman, aged 53, will report to Steven Collis, AmerisourceBergen's President and Chief Executive Officer. He earlier served as vice president and corporate controller since joining AmerisourceBergen in 2002.AmerisourceBergen expects to fill the role of corporate controller internally.
Commenting on Guttman's appointment, CEO Collis said, "I am very pleased to appoint Tim to his new role. Since he joined the Company 10 years ago, he has demonstrated his ability to drive financial discipline throughout the organization, and he has been an important partner in driving our operating performance."
Prior to joining AmerisourceBergen, Guttman was vice president of finance at Syncor International Corp. He has held financial planning and managerial positions at Disney Consumer Products, Pizza Hut, Inc. and PepsiCo, Inc (PEP). Guttman started his career as a certified public accountant with accounting firm Deloitte & Touche.
On Thursday, Pennsylvania-based AmerisourceBergen said its board of directors authorized a new $750 million share repurchase program, effective immediately. The board has also declared a cash dividend of $0.13 per share.
In late April, AmerisourceBergen reported a small decline in profit for the second quarter, while revenues edged up 1.6 percent.
In Friday's regular session, ABC is trading at $36.62, up $0.04 or 0.11 percent on a volume of 3,170 shares.
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