Summary
Cencora, Inc. (formerly AmerisourceBergen Corporation) announced a significant addition to its Board of Directors with the appointment of Lorence H. Kim, M.D., effective October 1, 2022. Dr. Kim brings a wealth of financial and healthcare industry expertise, having previously served as Chief Financial Officer of Moderna, Inc., and in investment banking at Goldman Sachs. His appointment, which increases the board size to eleven members, is expected to enhance the company's strategic oversight, particularly given his experience in finance and venture capital through his role at Third Rock Ventures. Dr. Kim has been deemed an independent director and will serve on the Board's Finance Committee. His compensation as a non-employee director includes an annual cash retainer of $100,000 and an annual equity award valued at $200,000. This appointment signals a strengthening of the board's financial acumen and strategic advisory capabilities, drawing on Dr. Kim's extensive background in biotechnology and corporate finance, which could be beneficial for Cencora's future growth and operational strategies.
Key Highlights
- 1Lorence H. Kim, M.D., appointed to the Board of Directors, effective October 1, 2022.
- 2Dr. Kim brings extensive financial and healthcare industry experience, including prior roles as CFO of Moderna and Managing Director at Goldman Sachs.
- 3The Board's size will increase from ten to eleven members to accommodate the new appointment.
- 4Dr. Kim will serve on the Board's Finance Committee.
- 5The Board determined Dr. Kim qualifies as an independent director.
- 6Non-employee director compensation includes a $100,000 annual cash retainer and a $200,000 annual equity award.
- 7No related-party transactions between Dr. Kim and the Company requiring disclosure.