Cencora Appoints New CFO, Robert P. Long
Ticker: COR · Form: 8-K · Filed: Aug 15, 2024 · CIK: 1140859
| Field | Detail |
|---|---|
| Company | Cencora, INC. (COR) |
| Form Type | 8-K |
| Filed Date | Aug 15, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
TL;DR
Cencora just hired a new CFO, Robert P. Long, starting Aug 19th. Big salary, big bonuses expected.
AI Summary
On August 13, 2024, Cencora, Inc. announced the appointment of Robert P. Long as Executive Vice President and Chief Financial Officer, effective August 19, 2024. Long will receive an annual base salary of $750,000 and will be eligible for the company's annual incentive plan and long-term equity incentive awards. He previously served as Executive Vice President and Chief Financial Officer at Catalent, Inc.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact investor confidence and the company's financial strategy moving forward.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $750,000 — CFO Base Salary (Annual base salary for the new CFO, Robert P. Long.)
Key Players & Entities
- Cencora, Inc. (company) — Registrant
- Robert P. Long (person) — Newly appointed Executive Vice President and Chief Financial Officer
- $750,000 (dollar_amount) — Annual base salary for Robert P. Long
- August 13, 2024 (date) — Date of the report
- August 19, 2024 (date) — Effective date for Robert P. Long's appointment
- Catalent, Inc. (company) — Previous employer of Robert P. Long
FAQ
What is Robert P. Long's new role at Cencora?
Robert P. Long has been appointed as Executive Vice President and Chief Financial Officer.
When does Robert P. Long's appointment become effective?
The appointment is effective August 19, 2024.
What is Robert P. Long's annual base salary?
His annual base salary is $750,000.
What other compensation is Robert P. Long eligible for?
He is eligible for Cencora's annual incentive plan and long-term equity incentive awards.
Where did Robert P. Long previously work?
He previously served as Executive Vice President and Chief Financial Officer at Catalent, Inc.
Filing Stats: 775 words · 3 min read · ~3 pages · Grade level 10.4 · Accepted 2024-08-15 08:30:12
Filing Documents
- tm2421656d2_8k.htm (8-K) — 27KB
- tm2421656d2_ex99-1.htm (EX-99.1) — 6KB
- tm2421656d2_ex99-1img001.jpg (GRAPHIC) — 7KB
- 0001104659-24-089929.txt ( ) — 213KB
- cor-20240813.xsd (EX-101.SCH) — 3KB
- cor-20240813_lab.xml (EX-101.LAB) — 33KB
- cor-20240813_pre.xml (EX-101.PRE) — 22KB
- tm2421656d2_8k_htm.xml (XML) — 4KB
02. Departure of Directors or Certain Officers; Election
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Director Appointment On August 13, 2024, the Board of Directors (the "Board") of Cencora, Inc. (the "Company") appointed Frank Clyburn to serve on the Board (the "Appointment"), with such Appointment to be effective as of October 1, 2024 (the "Effective Date"). In connection with the Appointment and the previously-disclosed appointment of Robert P. Mauch to the Board (also effective as of the Effective Date), the Board will increase from eleven to thirteen members in accordance with the Company's Amended and Restated Bylaws as of the Effective Date. Mr. Clyburn will receive the same benefits and compensation as the other non-employee directors on the Board pursuant to the Company's Compensation Policy for Non-Employee Directors, as described on pages 36 to 37 of the Definitive Proxy Statement on Schedule 14A filed by the Company with the Securities and Exchange Commission (the "SEC") on January 29, 2024. All such compensation, including the non-employee director annual equity award, will be pro-rated for the period beginning on the Effective Date and ending on the date of the Company's 2025 Annual Meeting of Stockholders. There are no arrangements or understandings between Mr. Clyburn and any other persons pursuant to which Mr. Clyburn was appointed as a director. There are no family relationships between Mr. Clyburn and any director or executive officer of the Company, and the Company has not entered into any transactions with Mr. Clyburn that would require disclosure under Item 404(a) of Regulation S-K.
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On August 15, 2024, the Company issued a news release announcing the Appointment. A copy of the news release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The information in this Item 7.01, including Exhibit 99.1, is being furnished to the SEC and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. This information shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
01. Financial
Item 9.01. Financial (d) Exhibits. Exhibit No. Description 99.1 News Release, dated August 15, 2024, regarding the appointment of Frank Clyburn as a director of Cencora, Inc. 104 Cover Page Interactive Data File (formatted as inline XBRL)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CENCORA, INC. August 15, 2024 By: /s/ Elizabeth S. Campbell Name: Elizabeth S. Campbell Title: Executive Vice President & Chief Legal Officer