Big CFO Changes in 2013

James Beer, Executive Vice President and CFO of McKesson Corporation

Several large corporations reported changing Chief Financial Officers in 2013. Recently, Office Depot, Inc. appointed a new Executive Vice President and Chief Financial Officer. In the last few months, McKesson, a major force in the pharmaceutical and medical supplies distribution market, also announced the appointment of a new CFO.Office Depot

Office Depot recently appointed Stephen E. Hare as Executive Vice President and Chief Financial Officer effective immediately. Mr. Hare has prior experience as The Senior Vice President and Chief Financial Officer of Wendy’s, where he served from 2011 to 2013. This decision was made after a recent completed merger between OfficeMax and Office Depot. This new merged company will have revenue of over $17 billion, and Mr. Hare will be responsible for approximately 66,000 employees worldwide.

Office Depot was incorporated in 1986 and has been the nationwide leader in supplying office products and services. With the recent merger of Office Depot and OfficeMax, this new Corporation is set to become the global leader in providing workplace services, products, and solutions.                 

McKesson Corporation

In October 2013, McKesson Corporation announced that it has appointed James A. Beer as the company’s Executive Vice President and Chief Financial Officer. This position had been vacant since June of 2013 when Jeffrey C. Campbell left to join American Express Company. Prior to assuming the position at McKesson, James A. Beer was Executive Vice President and CFO at Symantec. While at Symantec, he was responsible for financial planning and analysis and also corporate development.

Since 1833, McKesson Corporation has been the leader in pharmaceutical and medical supply distribution in the United States. In looking ahead to 2014, James A. Beer will be instrumental in working with the new healthcare changes in the Affordable Care Act and in dealing with increased generic utilization of prescription medications. Pharmaceutical companies like McKesson will be on the front lines when it comes to the changes in the healthcare industry.

With the changes in healthcare and technology in 2014, these new CFO’s will have many new challenges to meet as they lead their corporations into the New Year.                               

Who do you think will be appointed in 2014?