Steven Paladinowill retire on April 29, 2022, to be succeeded by Ronald N. South, Henry Schein’s Vice President, Corporate Finance and Chief Accounting Officer Mr. Paladinoto remain a member of Henry Schein’s Board of Directors and become an adviser to the Company following retirement
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Mr. Paladino’s 35 years of dedicated service at Henry Schein includes 29 years as CFO. During this time, the Company enjoyed significant financial success, with net sales and diluted earnings per share through fiscal year 2020 rising at a compound annual growth rate of approximately 12% since Henry Schein became a public company in 1995.
“After an impressive 35 years of distinguished service to Henry Schein, Steven has decided to spend more time with his family,”
“I am honored to have worked alongside Stan, the Board of Directors, the Company’s Executive Management Committee members, and my fellow Team Schein Members to help grow this organization,” said
Since joining the Company in 2008, Mr. South has reported to
“Ron is a seasoned strategic and financial executive,”
“I would like to thank Steven for his invaluable leadership and mentorship. He has been an instrumental leader in Henry Schein’s financial success, and I look forward to building upon the strong foundation that he created,” said Mr. South.
Additionally, Henry Schein announced that Olga Timoshkina, who joined Henry Schein this past September as Vice President, Corporate Controller, will succeed Mr. South as Vice President, Corporate Finance and Chief Accounting Officer, reporting to Mr. South. In this role, Ms. Timoshkina will be responsible for global accounting and reporting matters, leading
“With broad experience advising multiple global companies on complex matters in financial reporting, process improvements, and operational challenges, including extensive experience with acquisitions, I am confident that Olga will be successful in the transition to her new role as Vice President, Corporate Finance and Chief Accounting Officer,” said
“Olga is a true professional who will contribute significantly to the work of Henry Schein’s Finance team,” said Mr. South. “We were delighted when she joined our Company and especially pleased that she is taking on this new role as we position Henry Schein for continued growth in the years ahead.”
 The calculation of diluted EPS is based on certain non-GAAP results, and a reconciliation is available on our website at slides 22 and 34, see https://www.henryschein.com/us-en/images/corporate/corporatepres-Q3-2021.pdf.
Henry Schein operates through a centralized and automated distribution network, with a selection of more than 120,000 branded products and Henry Schein private-brand products in stock, as well as more than 180,000 additional products available as special-order items.
A FORTUNE 500 Company and a member of the S&P 500® index, Henry Schein is headquartered in
Cautionary Note Regarding Forward-Looking Statements
In accordance with the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995, we provide the following cautionary remarks regarding important factors that, among others, could cause future results to differ materially from the forward-looking statements, expectations and assumptions expressed or implied herein. All forward-looking statements made by us are subject to risks and uncertainties and are not guarantees of future performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance and achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These statements include the impact of the Company’s announced CFO succession plan and are generally identified by the use of such terms as “may,” “could,” “expect,” “intend,” “believe,” “plan,” “estimate,” “forecast,” “project,” “anticipate,” “to be,” “to make” or other comparable terms. A fuller discussion of our operations, financial condition and status of litigation matters, including factors that may affect our business and future prospects, is contained in documents we have filed with the
Risk factors and uncertainties that could cause actual results to differ materially from current and historical results include, but are not limited to: risks associated with COVID-19 and any variants thereof, as well as other disease outbreaks, epidemics, pandemics, or similar wide spread public health concerns and other natural disasters or acts of terrorism; our dependence on third parties for the manufacture and supply of our products; our ability to develop or acquire and maintain and protect new products (particularly technology products) and technologies that achieve market acceptance with acceptable margins; transitional challenges associated with acquisitions, dispositions and joint ventures, including the failure to achieve anticipated synergies/benefits; financial and tax risks associated with acquisitions, dispositions and joint ventures; certain provisions in our governing documents that may discourage third-party acquisitions of us; effects of a highly competitive (including, without limitation, competition from third-party online commerce sites) and consolidating market; the potential repeal or judicial prohibition on implementation of the Affordable Care Act; changes in the health care industry; risks from expansion of customer purchasing power and multi-tiered costing structures; increases in shipping costs for our products or other service issues with our third-party shippers; general global macro-economic and political conditions, including international trade agreements and potential trade barriers; failure to comply with existing and future regulatory requirements; risks associated with the EU Medical Device Regulation; failure to comply with laws and regulations relating to health care fraud or other laws and regulations; failure to comply with laws and regulations relating to the confidentiality of sensitive personal information or standards in electronic health records or transmissions; changes in tax legislation; litigation risks; new or unanticipated litigation developments and the status of litigation matters; cyberattacks or other privacy or data security breaches; risks associated with our global operations; our dependence on our senior management, as well as employee hiring and retention; and disruptions in financial markets. The order in which these factors appear should not be construed to indicate their relative importance or priority.
We caution that these factors may not be exhaustive and that many of these factors are beyond our ability to control or predict. Accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. We undertake no duty and have no obligation to update forward-looking statements.
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