Henry Schein Appoints Carole T. Faig as New Independent Director

Rhea-AI Summary

Henry Schein, Inc. (HSIC) Appoints Carole T. Faig as Independent Director, Bringing Extensive Health Care and Finance Expertise

MELVILLE, N.Y.--(BUSINESS WIRE)-- Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical practitioners, announced today that its Board of Directors has appointed Carole T. Faig as an independent director to serve until the 2024 Annual Meeting of Stockholders in May, when she is expected to stand for re-election to the Board by a vote of the Company’s stockholders.

Carole T. Faig (Photo: Business Wire)

Ms. Faig brings to Henry Schein extensive expertise in finance, audit, and public accounting and particular experience in the health care sector, including hospitals, health insurance, biotechnology, and medical device companies. Prior to retiring in July 2021, from her 38-year career at Ernst & Young LLP (EY), Ms. Faig served in several leadership roles, including U.S. Health Leader and West Region Health and Life Sciences Leader, where she was responsible for developing and driving EY’s strategy to grow its health care practice in a rapidly changing environment. Ms. Faig holds a Bachelor of Business Administration in accounting from Sam Houston State University and is a certified public accountant.

“We are pleased to welcome Carole to our Board. Her proven expertise in navigating the transformation of health care and her deep accounting experience will be valuable assets as we advance the strategic goals of the Company. We expect Carole will bring new perspectives that will enhance the effectiveness of our Board, and we look forward to her contributions to Henry Schein’s continued success,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein.

Ms. Faig is currently a member of the boards of directors of three companies, where she serves as the Audit Committee Chair: Cue Health, a Nasdaq-listed company, and Affinia Therapeutics and QuVa Pharma, private equity–backed private businesses. A champion for diversity, she served on EY's Gender Equity Task Force and was awarded EY’s Chairman’s Value Award and Americas Assurance Inclusive Leadership Award in recognition of her commitment to building an inclusive workplace.

“It is a pleasure to join the Board of Henry Schein and be part of a team actively shaping the future of health care amidst a rapidly evolving health ecosystem,” said Ms. Faig. “Henry Schein’s commitment to providing innovative health care solutions and to be a trusted advisor and consultant to our customers is truly inspiring. I look forward to leveraging my expertise to support our continued growth and impact.”

About Henry Schein, Inc.

Henry Schein, Inc. (Nasdaq: HSIC) is a solutions company for health care professionals powered by a network of people and technology. With approximately 24,000 Team Schein Members worldwide, the Company's network of trusted advisors provides more than 1 million customers globally with more than 300 valued solutions that help improve operational success and clinical outcomes. Our Business, Clinical, Technology, and Supply Chain solutions help office-based dental and medical practitioners work more efficiently so they can provide quality care more effectively. These solutions also support dental laboratories, government and institutional health care clinics, as well as other alternate care sites.

Henry Schein operates through a centralized and automated distribution network, with a selection of more than 300,000 branded products and Henry Schein private-brand products in stock.

A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in Melville, N.Y., and has operations or affiliates in 33 countries and territories. The Company's sales reached $12.6 billion in 2022, and have grown at a compound annual rate of approximately 12.1 percent since Henry Schein became a public company in 1995.

For more information, visit Henry Schein at www.henryschein.com, Facebook.com/HenrySchein Instagram.com/HenrySchein, and Twitter.com/HenrySchein.

Cautionary Note Regarding Forward-Looking Statements

In accordance with the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995, we provide the following cautionary remarks regarding important factors that, among others, could cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein. All forward-looking statements made by us are subject to risks and uncertainties and are not guarantees of future performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance and achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These statements are generally identified by the use of such terms as “may,” “could,” “expect,” “intend,” “believe,” “plan,” “estimate,” “forecast,” “project,” “anticipate,” “to be,” “to make” or other comparable terms. A fuller discussion of our operations, financial condition and status of litigation matters, including factors that may affect our business and future prospects, is contained in documents we have filed with the United States Securities and Exchange Commission, or SEC, including our most recently filed Annual Report on Form 10-K, and will be contained in all subsequent periodic filings we make with the SEC. These documents identify in detail important risk factors that could cause our actual performance to differ materially from current expectations. Forward-looking statements include the impact of the cybersecurity incident on our business and results of operations, including the accuracy of our estimates of the impact, the timing and extent of any insurance claim recovery, the overall impact of the Coronavirus Disease 2019 (COVID-19) on the Company, its results of operations, liquidity and financial condition (including any estimates of the impact on these items), the rate and consistency with which dental and other practices resume or maintain normal operations in the United States and internationally, expectations regarding personal protective equipment (“PPE”) products and COVID-19 related product sales and inventory levels, whether additional resurgences or variants of the virus will adversely impact the resumption of normal operations, whether supply chain disruptions will adversely impact our business, the impact of integration and restructuring programs as well as of any future acquisitions, general economic conditions including exchange rates, inflation and recession, and more generally current expectations regarding performance in current and future periods. Forward looking statements also include (i) our ability to have continued access to a variety of COVID-19 test types, and COVID-19 vaccines and ancillary supplies, and (ii) expectations regarding COVID-19 test sales, demand and inventory levels.

Risk factors and uncertainties that could cause actual results to differ materially from current and historical results include, but are not limited to: risks associated with COVID-19 and any variants thereof, as well as other disease outbreaks, epidemics, pandemics, or similar wide-spread public health concerns and other natural disasters; our dependence on third parties for the manufacture and supply of our products; our ability to develop or acquire and maintain and protect new products (particularly technology products) and technologies that achieve market acceptance with acceptable margins; transitional challenges associated with acquisitions, dispositions and joint ventures, including the failure to achieve anticipated synergies/benefits; legal, regulatory, compliance, cybersecurity, financial and tax risks associated with acquisitions, dispositions and joint ventures; certain provisions in our governing documents that may discourage third-party acquisitions of us; adverse changes in supplier rebates or other purchasing incentives; risks related to the sale of corporate brand products; effects of a highly competitive (including, without limitation, competition from third-party online commerce sites) and consolidating market; the repeal or judicial prohibition on implementation of the Affordable Care Act; changes in the health care industry; risks from expansion of customer purchasing power and multi-tiered costing structures; increases in shipping costs for our products or other service issues with our third-party shippers; general global and domestic macroeconomic and political conditions, including inflation, deflation, recession, fluctuations in energy pricing and the value of the U.S. dollar as compared to foreign currencies and changes to other economic indicators, international trade agreements, potential trade barriers and terrorism; failure to comply with existing and future regulatory requirements; risks associated with the EU Medical Device Regulation; failure to comply with laws and regulations relating to health care fraud or other laws and regulations; failure to comply with laws and regulations relating to the collection, storage and processing of sensitive personal information or standards in electronic health records or transmissions; changes in tax legislation; risks related to product liability, intellectual property and other claims; litigation risks; new or unanticipated litigation developments and the status of litigation matters; risks associated with customs policies or legislative import restrictions; cyberattacks or other privacy or data security breaches; risks associated with our global operations; our dependence on our senior management, employee hiring and retention, and our relationships with customers, suppliers and manufacturers; and disruptions in financial markets. The order in which these factors appear should not be construed to indicate their relative importance or priority.

We caution that these factors may not be exhaustive and that many of these factors are beyond our ability to control or predict. Accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. We undertake no duty and have no obligation to update forward-looking statements except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231218305776/en/

Investors

Ronald N. South

Senior Vice President and Chief Financial Officer

ronald.south@henryschein.com

(631) 843-5500



Graham Stanley

Vice President, Investor Relations and Strategic Financial Project Officer

graham.stanley@henryschein.com

(631) 843-5500



Media

Ann Marie Gothard

Vice President, Global Corporate Media Relations

annmarie.gothard@henryschein.com

(631) 390-8169

Source: Henry Schein, Inc.

FAQ

Who has Henry Schein appointed as an independent director?

Henry Schein, Inc. (HSIC) has appointed Carole T. Faig as an independent director.

What is Carole T. Faig's expertise?

Carole T. Faig brings extensive expertise in finance, audit, and public accounting, with particular experience in the health care sector, including hospitals, health insurance, biotechnology, and medical device companies.

What are Carole T. Faig's qualifications?

Carole T. Faig holds a Bachelor of Business Administration in accounting from Sam Houston State University and is a certified public accountant.

What companies does Carole T. Faig serve on the boards of directors for?

Carole T. Faig currently serves on the boards of directors of Cue Health, a Nasdaq-listed company, and Affinia Therapeutics and QuVa Pharma, private equity–backed private businesses.

What awards has Carole T. Faig received?

Carole T. Faig was awarded EY’s Chairman’s Value Award and Americas Assurance Inclusive Leadership Award in recognition of her commitment to building an inclusive workplace.

What is Stanley M. Bergman's position at Henry Schein?

Stanley M. Bergman is the Chairman of the Board and Chief Executive Officer of Henry Schein.