CINCINNATI (AP) — Omnicare Inc. CEO John Figueroa has resigned from the pharmaceutical services provider, saying he had accomplished what he was hired to do.
The company said Monday that President and Chief Financial Officer John Workman will serve as interim CEO.
Workman has served as CFO since November 2009 and as president since February 2011.
Omnicare said that Figueroa indicated in submitting his resignation that he felt he met the goals created by the company’s board when he was hired, which was to shift Omnicare to more of an operations-driven company focused on customer service.
He had been CEO since January 2011, according to CapitalIQ. He is also leaving the Omnicare board.
The executive committee of Omnicare’s board will coordinate the search for a permanent CEO. The Cincinnati company says it will look at internal and external candidates, including Workman.
Omnicare also announced that Nitin Sahney, executive vice president and president of the specialty care unit, will take on the additional role of chief operating officer. In the new role, Sahney will be responsible for the long term care division. The appointment is effective immediately.
Omnicare maintained its full-year revenue forecast of $6.1 billion to $6.2 billion. Analysts polled by FactSet expect revenue of $6.25 billion.
Omnicare shares were unchanged at $33.36 in light premarket trading Monday. They reached a 52-week high of $36.48 in early April. They traded as low as $20.36 in early October 2011.
