Omnicare Appoints John Workman CEO

Omnicare

announced today that its Board of Directors has named John L. Workman Chief Executive Officer, effective immediately. He will also serve as a member of Omnicare's Board of Directors. Mr. Workman has served as Omnicare's interim CEO since June 2012. The Company also announced that it has appointed Nitin Sahney, Chief Operating Officer, to the additional role of President and promoted Robert "Rocky" Kraft from Senior Vice President, Finance, to Chief Financial Officer, both effective immediately. "We are pleased to announce that after a thorough search process, the Board has chosen John Workman to lead Omnicare as Chief Executive Officer," said James D. Shelton, Omnicare's Chairman of the Board. "John is a proven executive who has provided outstanding leadership to Omnicare, as well as in-depth understanding of our industry and opportunities for sustained growth. He has been intimately involved in executing on our strategy and improving our operations to deliver results for all our stakeholders. The Board was unanimous that John is the right person to help us achieve our goals and lead Omnicare into the future." Mr. Workman said, "I am honored that the Board has selected me to lead Omnicare and am confident that we will continue to successfully execute on our core strategies. Omnicare has a tremendous team of more than 14,000 employees who are dedicated to improving the quality of patient care through essential pharmaceutical services amid a rapidly changing healthcare landscape. I look forward to partnering with our Board, management team and employees to drive profitable and sustainable growth, as we remain focused on enhancing the customer experience while improving the efficiency of our operations." In commenting on the executive leadership appointments Mr. Workman said, "I greatly value my partnership with Nitin and am delighted that he has been appointed President. We believe this structure will serve Omnicare well, as we are both committed to better leveraging the Company's strong platform through a disciplined approach to operations. "I am also pleased that Rocky has been promoted to Chief Financial Officer. Rocky has played a significant role in the recent initiatives designed to improve the Company's capital structure. His outstanding track record of success in senior financial and accounting roles, combined with his business acumen and knowledge of our business makes him a natural choice to lead our finance organization."