On Tuesday, Robert Mauch officially became the new CEO of Conshohocken-based Cencora, formerly AmerisourceBergen, reports John George for the Philadelphia Business Journal. Mauch succeeds Steve Collis.
According to Elizabeth Anderson, an analyst at Evercore ISI, this transition is not expected to result in significant changes, as Mauch is a long-time company insider taking over a profitable business. “I think what you’ll see is a continuation of the same strategy,” she said.
Anderson emphasized the stability of the company, which ranks 10th on the Fortune 500 list with $262 billion in revenue in 2022.
Mauch, previously Cencora’s COO, is the company’s third CEO in its 23-year history. Collis led the company for 13 years, including overseeing its $1.4 billion acquisition of Pharmalex to enhance its specialty services. During his tenure, Cencora rebranded and agreed to a $6.1 billion settlement over opioid lawsuits.
Despite challenges with supply chain disruptions and legal settlements, Cencora posted a $1.73 billion profit in fiscal 2023. This follows a $3.4 billion loss in fiscal 2022.
Mauch, who joined the company in 2007, expressed optimism for the future. “I believe Cencora has the potential to not only lead but transform health care globally,” he said.
Collis highlighted the company’s growth during his leadership, noting that Cencora now ships 6.7 million products daily and employs more than 46,000 people in over 50 countries. He also mentioned the company’s $100 million investment in a fund aimed at increasing diversity among its suppliers.
Read more about Cencora’s new CEO, Robert Mauch, at the Philadelphia Business Journal.
