Cardinal Health, a healthcare supply-chain products and services company based in Dublin, Ohio, announced the immediate resignation of Mark Parrish, chief executive officer of the companys healthcare supply-chain services division. Chief Financial Officer Jeffrey Henderson, 42, will serve as interim CEO of the division while the company seeks a permanent replacement.
The announcement follows the release of Cardinals 2008 first-quarter earnings report, which listed declining profits for the healthcare supply-chain services division. The divisions profits declined 10% to $58 million during the quarter.
Parrish, 52, is leaving Cardinal to pursue other interests, according to a company news release. Under the terms of his severance agreement, Parrish, whose 2008 base salary is $720,000, will receive a years salary plus a targeted annual bonus of $720,000. He also will receive 12 months of healthcare benefits, out-placement services and continued stock options. -- by Shawn Rhea