Cardinal Taps P&G Exec

Kerry Clark takes over for Robert Walter.
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Cardinal Health (CAH) - Get Report named Procter & Gamble (PG) - Get Report Vice Chairman Kerry Clark CEO.

The Dublin, Ohio, health care supplier said founder Robert Walter will remain chairman. Clark, 53, led P&G's $20 billion Global Family Health business, which includes pharmaceuticals and over-the-counter medicines.

Cardinal also said George L. Fotiades, president and chief operating officer, will leave the company following a transition period.

"Kerry brings broad, international experience and high performance standards from one of the most respected companies in the world," Walter said. "His skill set is highly relevant to Cardinal Health's mission to build upon our market segment leadership and capitalize on the company's considerable opportunities for growth around the world. He is also a perfect fit with Cardinal Health's culture, sharing our focus on performance and strong values. I am very excited about our prospects under Kerry's leadership and remain passionate in helping the company achieve its future goals."

P&G, Cincinnati, said Bruce L. Byrnes will assume responsibility for the baby care, family care and pet health and nutrition businesses that previously reported to Clark. Byrnes is vice chair-Household Care. Susan E. Arnold will assume responsibility for oral care, personal health and pharmaceutical businesses. She has been named vice chair-P&G Beauty & Health.

"Kerry has made tremendous contributions to P&G during his 32 years of service," said A.G. Lafley, P&G chief executive. "Over his P&G career, Kerry helped lead virtually every P&G business category and was the architect of P&G's developing markets growth strategy. Kerry leaves an outstanding legacy."