Struggling healthcare products distributor Cardinal Health named Procter & Gamble exec Kerry Clark as CEO. Clark replaces Robert Walter, who led the company for thirty-six years. A candidate for the top jobs at Coca Cola and 3M this year, Clark's resume includes a stint at the helm of P&G's family healthcare products division. Walter remains with Cardinal as chairman of the board.
Cardinal has hit turbulent times of late as drug makers have changed their policies on advanced sales, making it harder for distributors to make a profit when prices rise. Alongside McKesson and AmeriSourceBergen, Cardinal is a dominant distributor, handling about 30 percent of the drugs sold in the United States.
- see this article from BusinessWeek