Wednesday, December 2, 2009

Carrie Cox Elected To Cardinal's Board of Directors


The Dublin, Ohio-based distributor of a vast array of health care goods and services has appointed Carrie Smith Cox, formerly of Schering-Plough, to its board, per PR newswire:

. . . .Cardinal Health today announced that Carrie Cox will serve on the company’s board of directors, effective immediately. . . .

Prior to her term at Schering-Plough, Cox served as president of Pharmacia Corp.’s global pharmaceutical business. She had joined Pharmacia’s predecessor company, Pharmacia & Upjohn, in 1997 and held a number of positions of increasing responsibility there. . . .

Cox received a Bachelor of Science degree from the Massachusetts College of Pharmacy in 1981. . . .

Ms. Cox also received $120,000 worth of restricted Cardinal stock units this morning (free of charge); the units will vest on December 1, 2010. Additionally, she will be paid a $75,000 annual cash retainer, plus $10,000 a year, for each committee upon which she serves (typically two, or an additional $20,000). All in, then, on an annual basis, she'll receive about $215,000, plus specified transportation reimbursement and tax gross-ups (including spousal travel reimbursement, and tax gross-ups!), various retirement benefits, and various forms of insurance.

Oddly -- there was no mention of the fact that her efforts at Pharmacia led to the largest criminal fine ever paid (Bextra; ultimately paid by Pfizer) by a pharma company in the US.

Well, I guess that would be because Cardinal is not strictly a pharma company -- it is essentially supply-chain management, in a wide spectrum of health care settings -- so her skills, such as they are, would not seem to suit her for a position in management. This should prove interesting.

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