C-Suite Transitions – Executive Leadership Changes At Owens & Minor

Welcome to edition 11 of  C-Suite Transitions, a new weekly series on InsideArbitrage that tracks appointments and departures at publicly traded companies during the prior week. We highlight five appointments and departures each week by picking the largest companies from the full list of management changes.

1. Thomas F. Pettit, Chief Operations Officer of Generac Holdings (GNRC) gave notice of his intention to resign from the Company effective November 1, 2022.
2. Tripadvisor (TRIP) announced that Ernst Teunissen will retire from his role as Chief Financial Officer to pursue other interests, effective October 31, 2022.
3. NeuBase Therapeutics (NBSE), Sandra Rojas-Caro, M.D., Head of Research and Development and Chief Medical Officer notified the company of her intent to resign, effective October 28, 2022

Owens & Minor, is a 140-year-old global healthcare logistics company, that operates in two segments, Products and Healthcare Services, and Patient Direct.

On October 12, 2022, the company announced changes to its executive leadership team structure. OMI shares dropped more than 31% following the executive leadership changes.

Along with leadership updates, the business lowered its earnings guidance, which is expected to result in a $43 to $73 million fall from initial projections. The company reduced its EPS forecast for the entire year. It now anticipates EPS in a range of $2.50 to $2.60 compared to prior guidance of $2.85 to $3.15. The company completed the acquisition of American Contract Systems in December 2021.

Only plus or premium subscribers can access this post. Subscribe today.