Hill-Rom Launches CFO Search
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowBatesville-based Hill-Rom Holdings Inc. (NYSE: HRC) says its chief financial officer has resigned. Mark Guinan has joined New Jersey-based Quest Diagnostics Inc. (NYSE: DGX) as senior vice president and CFO. Hill-Rom says an external search for a replacement is underway. July 18, 2013
News Release
BATESVILLE, Ind., July 17, 2013 — Hill-Rom Holdings, Inc. (NYSE: HRC) announced today that it has begun an external search for a new Chief Financial Officer to replace its current CFO, Mark Guinan, who has resigned to accept a position with another company. Michael Macek, Hill-Rom's Vice President and Treasurer, will act as interim CFO until the search is complete.
“Mark has been a strong leader and valued contributor to Hill-Rom throughout his tenure,” said John Greisch, President and CEO. “I would like to personally thank him for his service and wish him every future success.”
Greisch continued, “We have engaged an executive search consultant to conduct the process for identifying Mark's successor as our Chief Financial Officer, and will provide an update on the process when appropriate.”
Additionally, Hill-Rom announced preliminary unaudited financial results for its fiscal third quarter ended June 30, 2013. Hill-Rom expects to report adjusted earnings of approximately $0.49 per share, within the range of its previous guidance. Revenue is expected to be approximately $424 million, an increase of 4 percent compared to last year.
As previously announced, Hill-Rom will host a conference call and webcast Thursday, July 25, 2013, from 8:00 a.m. – 9:00 a.m. ET to discuss more fully its third quarter results.
Discussion of Adjusted Financial Measures
Hill-Rom Holdings, Inc. routinely provides earnings per share results and guidance on an adjusted basis because the Company's management believes that the presentation provides useful information to investors. These measures exclude strategic developments, special charges or other unusual events. Such items may be highly variable, difficult to predict and of a size that sometimes have substantial impact on the Company's reported operations for a period. Often, prospective quantification of such items is not feasible. Management uses these measures internally for planning, forecasting and evaluating the performance of the business. Investors should consider non-GAAP measures in addition to, not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP.
ABOUT HILL-ROM HOLDINGS, INC.
Hill-Rom is a leading worldwide manufacturer and provider of medical technologies and related services for the health care industry, including patient support systems, safe mobility and handling solutions, non-invasive therapeutic products for a variety of acute and chronic medical conditions, medical equipment rentals, surgical products and information technology solutions. Hill-Rom's comprehensive product and service offerings are used by health care providers across the health care continuum and around the world in hospitals, extended care facilities and home care settings to enhance the safety and quality of patient care.
Hill-Rom…enhancing outcomes for patients and their caregivers.Source: Hill-Rom Holdings Inc.News Release
MADISON, N.J., July 17, 2013 — Quest Diagnostics Incorporated (NYSE: DGX) today announced that Mark J. Guinan will join the company on July 29 as its next Senior Vice President and Chief Financial Officer.
Since 2010, Mr. Guinan has served as Chief Financial Officer for Hill-Rom Holdings Inc. (NYSE: HRC), a manufacturer and provider of medical technologies and related services for the health care industry. Previously, he had served in a number of finance and operations roles in a long career at Johnson & Johnson in which he served most recently as Chief Procurement Officer, and earlier as CFO of the pharmaceutical business. Before that, he held a number of financial roles at Procter & Gamble.
“Mark has a strong operational finance background, and his addition to the team will help us drive execution of our strategy,” said Steve Rusckowski, President and CEO. “This was the critical last hire in our new senior management team, which is comprised of some executives from the company when I joined, and now five new members since last year. I believe that we have assembled the best possible management team that will allow us to execute our five point strategy.”
About Quest Diagnostics
Quest Diagnostics is the world's leading provider of diagnostic information services that patients and doctors need to make better healthcare decisions. The company offers the broadest access to diagnostic testing services through its network of laboratories and patient service centers, and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics is a pioneer in developing innovative new diagnostic tests and advanced healthcare information technology solutions that help improve patient care. Additional company information is available at: http://www.questdiagnostics.com/.
Source: Quest Diagnostics Incorporated