Owens & Minor Announces Exec Changes, Early 3Q Numbers - Modern Distribution Management

Owens & Minor Announces Exec Changes, Early 3Q Numbers

Changes include the appointment of Andrew G. Long as EVP, CEO, products & healthcare services segment, replacing Jeffrey T. Jochims.
Richmond, Virginia-based global healthcare products distributor Owens & Minor on Oct. 12 announced several executive leadership team changes, as well as preliminary financial figures for 2022's third-quarter.

Richmond, Virginia-based global healthcare products distributor Owens & Minor on Oct. 12 announced several executive leadership team changes, as well as preliminary financial figures for 2022’s third-quarter.

The changes include the appointment of Andrew G. Long as executive vice president, CEO, Products & Healthcare Services segment, replacing Jeffrey T. Jochims, who will leave the company, Owens & Minor said.

Long has worked as the company’s EVP and CFO since joining Owens & Minor almost three years ago.

Alexander J. Bruni also has been promoted to EVP and CFO, replacing Long, the company said.

“Andy has been a great leader at Owens & Minor and I am looking forward to having Andy in this role where his skillset will help drive the Products & Healthcare Services segment to a stronger future,” said Edward A. Pesicka, president and CEO. “Andy is well prepared for these new responsibilities and has a track record of success – building a world-class finance organization, leading and strengthening our IT capabilities and developing and deploying the Owens & Minor Business System. Andy has earned the confidence of myself and the Board of Directors as well our 20,000 teammates around the world and we are certain he is the right person for this role.”

Owens & Minor also announced preliminary third-quarter results and updated guidance for 2022.

Among the estimated 3Q numbers, the company said it now expects adjusted net income per share to be in a range of $2.50-$2.60 for the full year and adjusted EBITDA to be in a range of $527-$537 million. Previous full-year guidance for adjusted net income per share was in a range $2.85-$3.15 and previous full-year guidance for 2022 adjusted EBITDA was $570-$610 million, Owens & Minor said.

The company plans to release its financial results for 3Q 2022 on Nov. 2.

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