McKesson names new EVP, CFO
SAN FRANCISCO — McKesson on Monday announced James Beer will join the company as EVP and CFO on Oct. 9. Beer will be responsible for overseeing all financial functions for McKesson and replaces Jeff Campbell, who left the company in June 2013 to become CFO of American Express Co. Beer will also join McKesson’s executive committee.
“James Beer is exceptionally qualified to lead our finance organization as chief financial officer,” stated John Hammergren, chairman and CEO McKesson Corporation. “His extensive experience as the CFO for leading publicly traded companies across several industries provides him with the ideal background and perspective to help guide McKesson’s continued success.”
Beer comes to McKesson from Symantec Corporation, where he served as EVP and CFO managing the worldwide finance organization with responsibility for accounting, financial planning and analysis, treasury, tax, investor relations, corporate development, purchasing and audit. Prior to Symantec, Beer was CFO of AMR Corporation and American Airlines, AMR’s principal subsidiary. In his 15 years at American Airlines, Beer held a variety of management positions in finance and operations, including leading the airline’s European and Asia Pacific businesses.
“McKesson is strongly positioned to take advantage of tremendous growth opportunities in healthcare as the industry transforms through health reform,” Beer said. “I look forward to working with the company’s experienced leadership team to deliver on that potential and build upon the exceptional performance of the past decade.”
Beer holds a bachelor degree in aeronautical engineering from Imperial College, London University and a master’s degree in business administration from Harvard Business School.
Rite Aid offers new Medicare Part D plan with Symphonix
CAMP HILL, Pa. — Rite Aid will help elderly people and their caregivers prepare for the annual Medicare Part D enrollment starting in two weeks, the drug store chain said Tuesday.
Rite Aid said its stores around the country would offer Medicare Advisor to help Medicare beneficiaries and caregivers find the plan that suits them best starting on Oct. 15.
"We know that selecting the right prescription insurance converge can be overwhelming, and that’s why Rite Aid is committed to offering a valuable resource to help our customers make the best decision based on their prescription needs," Rite Aid EVP pharmacy Robert Thompson said. "Whether they are eligible for Medicare Part D coverage for the first time or reviewing their current elections, Rite Aid encourages all customers making this important healthcare decision to take advantage of Rite Aid’s free Medicare Advisor comparison tool with the help of their Rite Aid pharmacist or online at riteaid.com."
Plans available will include a new plan from Symphonix Health Insurance, called Symphonix Rite Aid Value Rx (PDP). The plan is designed to appeal to value-conscious customers, and Rite Aid will be the preferred pharmacy provider. The plan includes $1 co-pays for select generic drugs and a monthly premium described as competitive, as well as lower co-pays at Rite Aid pharmacies. The plan is available everywhere Rite Aid operates except Connecticut, Massachusetts, Rhode Island, New York, Virginia and West Virginia. Rite Aid is also a preferred pharmacy provider in Medicare Part D plans offered by WellPoint affiliates and Express Scripts Medicare (PDP), as well as region-specific plans.
Walmart Foundation appoints new president
The Walmart Foundation has appointed Kathleen McLaughlin as its president, effective Oct. 15. In addition to leading corporate giving, she will have responsibility for the company’s global sustainability, women’s economic empowerment initiatives and healthier food initiatives.
McLaughlin, previously a senior partner at global consulting firm McKinsey & Company, is a dual American-Canadian citizen and was based in Toronto.
"At Walmart we feel a responsibility to lead on some of the biggest global challenges of our time," said Mike Duke, Walmart president and CEO. "We are using the size, scale and strengths of our business to make a positive impact in these areas and the Walmart Foundation plays a major strategic role in making this model work. Kathleen has a personal passion for making a difference on social issues and the business expertise to help successfully develop and implement real, long-term solutions."
McLaughlin most recently led McKinsey’s Social Innovation Practice, where she worked with a range of businesses, NGOs and development agencies worldwide. Examples of her work in this area include developing strategy and revamping the operating models of major foundations and development organizations; enhancing sustainability of the food chain working with a global consortium of food growers, manufacturers, distributors and retailers on issues such as access to market for small growers and seafood sustainability; and improving delivery of maternal and HIV/AIDS health care in Africa, working with international donors, local governments and NGOs.
McLaughlin also has deep experience in retail, having led more than 75 engagements with retail clients around the world. Specific areas of focus include international strategy, category management, operational efficiency, pricing/promotions, digital marketing, format renewal and post-merger management.
"Kathleen has been at the forefront of innovative public-private partnerships that drive development in some of the poorest parts of the world," said Dan Bartlett, EVP of Walmart corporate affairs. "She has also worked closely with grocers, department stores, drugstore chains and other retailers to improve their business strategy and overall performance. It is this rare combination of knowledge and experience that will enable her to have a unique impact on our business and on the communities we serve around the world."
McLaughlin also recently completed 10 years of service on the board of the Toronto Community Foundation, including chairing the Community Initiatives Committee that oversaw initiatives and grant-making to Toronto NGOs addressing poverty, hunger, housing and immigrant integration issues.
She, her husband, Tim Costigan, and their three children will be relocating to northwest Arkansas.