PharMerica Corporation (NYSE: PMC), the second largest institutional
pharmacy services company in the United States, today announced the
addition of Robert A. Oakley, Ph.D. to the Company’s
Board of Directors. Dr. Oakley will also serve as Chairman of the Company’s
Audit Committee.
Since 2003, Dr. Oakley has served as the Shepard Executive-in-Residence
in the Fisher College of Business at The Ohio State University. In 2003,
Dr. Oakley retired after more than 25 years service with the Columbus
Ohio-based Nationwide companies, one of the largest diversified
insurance and financial services organizations in the world. During his
tenure as Chief Financial Officer and Executive Vice President of
Nationwide, he oversaw all controllership, treasury, tax reporting and
merger and acquisition activities for the Fortune 100 company. Dr.
Oakley currently serves on the Board of First Mercury Financial
Corporation (NYSE: FMR) and the Physicians Assurance Corporation. In
addition, he has previously served on the Board of Directors and was
chair of the Audit and Finance Committee of Ohio Casualty Corporation as
well as on the Board of Directors and the Audit Committee for OHIC
Insurance Company. He received his BS from Purdue University and both an
MBA and PhD in Finance from The Ohio State University.
In commenting on the addition of Dr. Oakley to the Board, Thomas P. Mac
Mahon, PharMerica’s Chairman of the Board,
said, “We are indeed fortunate to have someone
with Dr. Oakley’s experience join our Board.
Because of his strong financial background and expertise in a wide range
of areas, including insurance, risk management, corporate governance,
corporate finance and mergers and acquisitions, he will be an excellent
addition to our Board and Chairperson of our Audit Committee. We look
forward to his participation on our Board.”
About PharMerica
PharMerica Corporation is an institutional pharmacy services company
servicing healthcare facilities. PharMerica is the second largest
institutional pharmacy services company in the United States based upon
pro forma revenues for PharMerica’s combined
businesses for the year ended December 31, 2006. As of December 31,
2007, PharMerica operated 115 institutional pharmacies in 40 states.
PharMerica’s customers are typically
institutional healthcare providers, such as nursing centers, assisted
living facilities, hospitals and other long-term alternative care
settings. PharMerica Corporation generally is the primary source of
supply of pharmaceuticals for its customers.
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