AmerisourceBergen CFO DiCandilo resigns

Feb. 13 Mon Feb 13, 2012 8:17am EST

Feb. 13 (Reuters) - AmerisourceBergen Corp on Monday said its Chief Financial Officer Michael DiCandilo resigned "to pursue other interests," effective immediately.

The drug wholesaler said that Tim Guttman, AmerisourceBergen's corporate controller since 2002, will become acting CFO immediately.

Guttman was previously vice president of finance of Syncor International, and held financial planning and financial services managerial positions at Disney Consumer Products, Pizza Hut Inc and PepsiCo Inc. Guttman started his career as a certified public accountant with accounting firm Deloitte & Touche.

AmerisourceBergen has hired an executive search firm to manage the recruitment of a new CFO.

The company said it continues to expect fiscal 2012 diluted earnings per share to be in the range of $2.74 to $2.84. It anticipates flat to modest revenue growth and operating margin growth in the high single-digit to low double-digit basis points range. It reiterated its forecat for free cash flow of $700 million to $800 million, which includes capital expenditures in the $150 million range.

The company said it expects to spend about $400 million to repurchase its stock in fiscal 2012, subject to market conditions.

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