) announced that it has appointed James A. Beer as the company's
executive vice president and chief financial officer (CFO).
The appointment is effective Oct 9, 2013. Beer succeeds
Jeffrey C. Campbell who quit from his positions at the end of Jun
2013 to join
American Express Company
Earlier, Beer was the executive vice president and CFO at
), handling positions in a variety of fields including
accounting, financial planning and analysis, treasury, tax,
investor relations, corporate development, purchasing, and
We remind investors that Campbell was the CFO of McKesson for
the last 10 years and played a key role in the company's
phenomenal growth trajectory wherein revenues jumped
significantly from $68 billion in fiscal 2004 to $122 billion in
McKesson is a major player in the pharmaceutical and medical
supplies distribution market. The company's Distribution
Solutions segment continues to perform well benefiting from
increased generic utilization, driven by a lot of products going
off-patent in the next few years and an aging population.
Concurrent with its first quarter of fiscal 2014 results,
McKesson upped its results and expects adjusted earnings in the
range of $8.05 - $8.35 per share, up from the earlier estimate of
$7.90 - $8.20 per share
However, generic launches are expected to be slower in 2013
compared to 2012. This, in turn, might adversely impact the
Hence, it remains to be seen how Beer propels McKesson's
growth trajectory further.
McKesson currently carries a Zacks Rank #2 (Buy). Right now,
Cardinal Health, Inc
) also looks attractive with a Zacks Rank #1 (Strong Buy).
AMER EXPRESS CO (AXP): Free Stock Analysis
CARDINAL HEALTH (CAH): Free Stock Analysis
MCKESSON CORP (MCK): Free Stock Analysis
SYMANTEC CORP (SYMC): Free Stock Analysis
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