December 8, 2010 / 12:39 PM / in 7 years

UPDATE 1-Omnicare names new CEO

* Names John Figueroa chief executive officer, board member

* Appointment effective Jan 1, to replace James Shelton

Dec 8 (Reuters) - Pharmacy services provider Omnicare Inc OCR.N named industry veteran John Figueroa as its new chief executive officer, effective Jan 1.

Figueroa, with more than 20 years of experience in the healthcare industry, most recently served as president of the U.S. pharmaceutical group at McKesson Corp (MCK.N).

Figueroa will replace James Shelton, who was appointed as an interim CEO in August after the company’s longtime CEO resigned unexpectedly.

    Shelton will remain with Omnicare as the new non-executive chairman of its board and assist Figueroa during the transition period.

    Omnicare’s shares which have gained about 10 percent in the last three months closed at $23 Tuesday on the New York Stock Exchange. (Reporting by Krishnakali Sengupta in Bangalore; Editing by Jarshad Kakkrakandy)

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