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AmerisourceBergen Elects Lorence H. Kim, M.D., to Its Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
AmerisourceBergen Corporation (NYSE: ABC) appointed Dr. Lorence H. Kim as an independent director, effective October 1, 2022, expanding its Board to 11 members. Dr. Kim brings extensive experience in finance and healthcare, having served as CFO of Moderna and worked at Goldman Sachs. His background is expected to enhance the Board's strategic direction, fostering growth and innovation in pharmaceutical distribution. AmerisourceBergen ranks #10 on the Fortune 500, with over $200 billion in annual revenue, focused on creating healthier futures through efficient healthcare solutions.
Positive
Dr. Kim's expertise in finance and healthcare innovation expected to strengthen Board's strategic direction.
Expansion of the Board to 11 members may enhance governance and diverse perspectives.
Negative
Concerns about continuity and potential experience gaps with the addition of a new board member.
CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--
AmerisourceBergen Corporation (NYSE: ABC) today announced that its Board of Directors has elected Lorence H. Kim, M.D., 48, as a new independent director, effective October 1, 2022. With the election of Dr. Kim, the Board of Directors will increase from ten to eleven members, nine of whom are independent.
“We look forward to Dr. Kim joining AmerisourceBergen’s Board of Directors. His business acumen, deep financial expertise, and healthcare knowledge will bring great perspective to the Board, AmerisourceBergen, and our stakeholders,” said Jane E. Henney, M.D., Lead Independent Director.
“Lorence’s background makes him an excellent fit for AmerisourceBergen as we advance our strategic growth priorities and vision,” said Steven H. Collis, Chairman, President & Chief Executive Officer. “Lorence’s sophistication and experience in pharmaceutical innovation will be incredibly valuable as we continue to focus on delivering long-term sustainable growth, guided by our purpose of being united in our responsibility to create healthier futures.”
Dr. Kim is currently a Venture Partner at Third Rock Ventures, LLC. From 2014 to 2020, he was the Chief Financial Officer of Moderna, Inc. Prior to that, he spent 14 years at Goldman, Sachs & Co., where his last role was Managing Director and Co-Head, Biotechnology Investment Banking. Dr. Kim is a director of Cowen Inc. and Revolution Medicines, Inc. He also serves as a director of Abata Therapeutics, Inc., and Flare Therapeutics Inc., and was a director at Seres Therapeutics, Inc., from 2014 to 2020. In addition, he is a member of the Board of Governors of the American Red Cross and a member of the Board of Trustees for Prep for Prep.
Dr. Kim earned his bachelor’s degree in Biochemical Sciences from Harvard University. He earned an M.B.A. in Health Care Management from the Wharton School of the University of Pennsylvania and an M.D. from the University of Pennsylvania School of Medicine.
AboutAmerisourceBergen
AmerisourceBergen fosters a positive impact on the health of people and communities around the world by advancing the development and delivery of pharmaceuticals and healthcare products. As a leading global healthcare company, with a foundation in pharmaceutical distribution and solutions for manufacturers, pharmacies and providers, we create unparalleled access, efficiency and reliability for human and animal health. Our 42,000 global team members power our purpose: We are united in our responsibility to create healthier futures. AmerisourceBergen is ranked #10 on the Fortune 500 with more than $200 billion in annual revenue. Learn more at investor.amerisourcebergen.com.
