Cencora, Inc. (NYSE:COR), a $47.7 billion market cap leader in the wholesale drug distribution industry, disclosed today that two of its long-standing board members, Richard W. Gochnauer and Kathleen W. Hyle, will retire from their positions. The announcement came through a recent 8-K filing with the U.S. Securities and Exchange Commission. InvestingPro data shows the company maintains a "GREAT" financial health score, reflecting strong operational performance.
According to the filing, both Gochnauer and Hyle informed the company of their intentions to retire at the next Annual Meeting of Stockholders, scheduled for March 6, 2025. They will continue to serve in their roles until that date. The company stated that there were no disagreements leading to their decisions to retire.
Gochnauer has been part of Cencora’s board since 2008, contributing to the Audit Committee and Compliance and Risk Committee. Hyle joined the board in 2010 and has been serving as Chair of the Compensation and Succession Planning Committee, in addition to her roles on the Executive Committee and Finance Committee.
Following their departure, the board will downsize from 13 to 11 members. The company has not yet announced any successors or changes to the committee assignments resulting from the upcoming retirements.
In other recent news, Cencora Inc. has made significant strides in its fiscal operations and growth strategies. The company recently announced an upward revision of its fiscal year 2025 adjusted earnings per share (EPS) guidance following the acquisition of Retina Consultants of America (RCA). The deal, valued at $4.4 billion, allows Cencora to acquire an 85% stake in RCA, further strengthening its position in specialty medical services.
Additionally, Cencora’s fiscal 2024 Q4 results showcased a 15% year-over-year increase in earnings and revenue. The adjusted diluted EPS for Q4 rose by 17% to $3.34, and consolidated revenue reached $79.1 billion. The RCA acquisition is expected to contribute approximately $0.35 to earnings in its first year.
Analysts have been taking note of Cencora’s performance. Mizuho (NYSE:MFG) gave the company an Outperform rating with a target price of $280, based on a 16 times price-to-earnings (P/E) multiple of the projected calendar year 2026 earnings per share (EPS) of $17.00. Meanwhile, BofA Securities revised its stock price target for Cencora to $260 from $255.
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