Omnicare CEO resigns
John Figueroa resigned his position as chief executive officer and director of long-term care pharmacy provider Omnicare effective immediately, the company announced earlier this week.
The resignation follows a period of turbulence for the pharmacy services company, including the dismissal of a lawsuit against it brought by the Federal Trade Commission over its proposed take-over of its rival, PharMerica, and a $50 million settlement last month with the federal government over allegations about the improper dispensation of drugs for long-term care patients.
[See also: FTC dismisses suit against Omnicare; Omnicare settles federal case for $50M.]
In a statement, Omnicare said Figueroa chose to resign now because he believes he has accomplished the goals he was hired to meet – transitioning Omnicare to a more operations-driven company focused on customer service.
“When I joined as CEO, I was committed to transitioning Omnicare to a more operations-driven company and focusing on better leveraging our resources and capabilities to improve efficiency and enhance the customer experience,” Figueroa said in the press release. “I am proud of the progress we made as a team during my tenure.” A biography of Figueroa on Forbes.com says he began his tenure as CEO of Omnicare on Jan. 1, 2011.
Omnicare has appointed John Workman, the company’s president and chief financial officer, as interim CEO and director. While serving in his interim capacity, he will continue his responsibilities as CFO and president.
The company’s board of directors is coordinating a search for a CEO and director. The company noted in its statement about the resignation that its guidance for 2012 is not impacted by the resignation.
