Robert Walter, the founder of drug wholesaler, healthcare information technology developer and data-miner Cardinal Health, Dublin, Ohio, will step down Nov. 8 as chairman of the board, the company announced.
Walter, who originally launched Cardinal in 1971 as a food wholesaling business, switched focus to pharmaceuticals in 1979 and grew the business into a global healthcare behemoth with $81.3 billion in revenue in fiscal 2006 and a No. 19 ranking on the Fortune 500, according to its annual report and other published reports. He will be succeeded as chairman by Cardinal President and Chief Executive Officer R. Kerry Clark, who will continue as CEO. Walter will stay on as executive director of the company until June 30, 2008, and then will remain on the board after retiring from the company. -- by Joseph Conn / HITS staff writer
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