Summary
Cencora, Inc. (formerly AmerisourceBergen Corporation) announced on August 14, 2023, that its Board of Directors has elected two new independent directors, Werner Baumann and Lauren Tyler, effective October 1, 2023. This expansion will increase the Board size from ten to twelve members. Mr. Baumann brings extensive global experience from his tenure as CEO and Chairman of Bayer AG, with a strong background in finance and strategy. Ms. Tyler offers significant expertise in human resources and finance from her leadership roles at J.P. Morgan Asset & Wealth Management and her prior experience in investment banking and private equity. The addition of these directors is expected to enhance the Board's oversight and strategic guidance. Both individuals have been deemed independent by the New York Stock Exchange standards. Their compensation will follow the standard policy for non-employee directors, including an annual retainer and equity award.
Key Highlights
- 1Cencora (COR) is expanding its Board of Directors by adding two new independent members, Werner Baumann and Lauren Tyler, effective October 1, 2023.
- 2Werner Baumann has a strong background, having served as CEO and Chairman of Bayer AG, with experience in finance, strategy, and sustainability.
- 3Lauren Tyler brings 35 years of financial and HR leadership experience from J.P. Morgan Asset & Wealth Management, including roles in audit and investor relations.
- 4The Board size will increase from ten to twelve members.
- 5Both new directors have been classified as independent according to NYSE standards.
- 6New directors will receive an annual cash retainer of $100,000 and an annual equity award valued at $200,000.
- 7There are no disclosed related-party transactions between the new directors and the company.