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Cardinal Health names Michael Kaufmann CFO; Jon Giacomin assumes role of CEO Pharmaceutical segment

BY Michael Johnsen

Michael Kaufmann (left) and Jon Giacomin

DUBLIN, Ohio — Cardinal Health on Thursday announced that Michael Kaufmann has been named CFO of the company effective Nov. 11. This follows the previously announced planned retirement of current CFO Jeffrey Henderson.  

Jon Giacomin has been named to the role of CEO of the pharmaceutical segment, currently held by Mike Kaufmann, also effective Nov. 11.

"Over the past 24 years, Mike has demonstrated a track record of high performance across many roles for Cardinal Health. His unique blend of financial acumen and extensive operational experience make him ideally suited to take the position of CFO," stated George Barrett, chairman and CEO Cardinal Health. "We are excited to work with Mike in this new capacity. I'm thrilled that this move also allows us to bring Jon Giacomin into the Pharmaceutical segment leadership role. We are privileged to have the opportunity to draw from the deep well of our internal talent."
 
Kaufmann has served in the role of CEO of Cardinal Health's Pharmaceutical segment since 2009. He joined Cardinal Health in 1990 and held a number of senior operational, sales and finance positions. These positions included group president of the medical business of the former Healthcare Supply Chain segment, after serving as the segment's CFO. Prior to joining Cardinal Health, Kaufmann had a successful career in audit and consulting with Arthur Andersen, formerly one of the nation's largest public accounting firms.
 
Kaufmann is a member of the executive committee of the boards of the Healthcare Distribution Management Association and the National Association of Chain Drug Stores, and a trustee at Ohio Northern University. Kaufmann is the executive sponsor of the Cardinal Health Women's Initiative Network Employee Resource Group, which is dedicated to fostering partnerships that create a great place for women to work and grow their careers, while building a sustainable competitive advantage for Cardinal Health.
 
He earned a bachelor's degree in business administration from Ohio Northern University.
 
To ensure a seamless transition, current Cardinal Health CFO Jeff Henderson will remain as an employee until his retirement just past the end of the fiscal year in August 2015.  He will continue to have oversight for Cardinal Health China, in addition to working with the Cardinal Health leadership team on significant initiatives.
 
A 12-year veteran of Cardinal Health, Giacomin currently serves as president of U.S. Pharmaceutical Distribution. Prior to this, he was EVP Pharmaceutical Operations, where he was responsible for warehouse operations at 22 distribution centers and pharmaceutical packaging operations. Giacomin joined Cardinal Health in the Pharmaceutical packaging business and served as its VP and general manager before moving to the position of SVP inventory management for the former Healthcare Supply Chain Services segment.
 
Prior to joining Cardinal Health, Giacomin held engineering and operating roles for Griffith Micro Science and Sterigenics. He also served as a lieutenant in the U.S. Navy, where he held an engineering role.
 
He currently serves on the boards of trustees of the National Association of Chain Drug Stores Foundation and the Cardinal Health Foundation and as the executive sponsor of the Cardinal Health Veterans and Military Advocates Employee Resource Group.
 
He earned a bachelor's degree in mechanical engineering from the University of Notre Dame and an MBA from the University of Chicago.

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Kroger’s Q2 sales up 11.6%; supermarket raises full-year guidance

BY Michael Johnsen

 

CINCINNATI — Kroger Thursday morning reported total sales of $25.3 billion, representing an increase of 11.6% for its second quarter. Total sales, excluding fuel, increased 12.4% in the second quarter over the same period last year.
 
"We are winning with customers because we offer a full range of advantages including a great overall shopping experience, excellent customer service, a complete assortment of both national and corporate brand products and everyday low prices and promotional offerings," stated Rodney McMullen, Kroger CEO. "As we improve our connection with customers, we are also executing our growth plan and delivering on our key performance indicators – all of which is fueling strong financial results for shareholders."
 
Net earnings totaled $347 million, or $0.70 per diluted share, and identical supermarket sales growth, without fuel, was 4.8% in the second quarter of fiscal year 2014, marking the 43rd consecutive quarter of positive identical supermarket sales growth. 
 
Net earnings in the same period last year were $317 million, or $0.60 per diluted share.
 
Based on the second-quarter results, the company raised and narrowed its adjusted net earnings per diluted share guidance to a range of $3.22 to $3.28 for fiscal 2014. The previous guidance was $3.19 to $3.27 per diluted share. Kroger raised its identical supermarket sales growth guidance, excluding fuel, to 3.5% to 4.3% for fiscal 2014. The previous guidance was 3% to 4%. 
 
This is the second consecutive quarter that includes Harris Teeter in Kroger's statement of operations. Year-over-year percentage comparisons are affected as a result.
 
 

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Dr. Hauschka Skin Care launches at CVS/pharmacy Healthy Skincare Centers

BY Antoinette Alexander

NEW YORK — Dr. Hauschka Skin Care has announced the expansion of its partnership with CVS/pharmacy.

As of Sept. 1, a selection of the brand’s skin and body care products, including the newly reformulated Rose Day Cream, launched in 792 CVS/pharmacy “Healthy Skincare Centers” nationwide.

“We are thrilled to be a part of this prestige brand concept with CVS/pharmacy,” said Victor Morrison, CEO of Dr. Hauschka Skin Care. “The ‘Healthy Skincare Centers’ provide an ideal platform for Dr. Hauschka Skin Care to share our efficacious, 100% natural products with even more consumers nationwide. Their Beauty Advisors are trained and on location to prescribe the right skin regimen for each shopper, which speaks volumes about the CVS/pharmacy customer service strategy and aligns with our continued commitment to education."

 

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