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| ===Compensation=== | ===Compensation=== | ||
| While CEO of Owens and Minor in 2008, Craig R. Smith earned a total compensation of $2,982,637, which included a base salary of $788,077, a cash bonus of $1,080,000, stocks granted of $1,072,516, and no options.<ref>, Equilar.com</ref> | While CEO of Owens and Minor in 2008, Craig R. Smith earned a total compensation of $2,982,637, which included a base salary of $788,077, a cash bonus of $1,080,000, stocks granted of $1,072,516, and no options.<ref>, Equilar.com</ref> | ||
| ===Scandals=== | |||
| In early 2010, the company came under fire for employee discrimination. And The Pittsburgh division's refusal to hire African Americans. | |||
| ==References== | ==References== | ||
Revision as of 03:14, 15 August 2010
Owens & Minor (NYSE: OMI) is a Fortune 500 company based in Mechanicsville, Virginia. This company is a distributor of medical and surgical supplies.
Owens & Minor is the fourth oldest company in Richmond, Virginia. The company was originally founded in 1882 as a wholesale drug company by Ortho Owens and G. Gilmer Minor. Since then, three generations of Minors have ascended to the presidency of the company.
In 1955, Owens & Minor acquired the accounts and the name of Bodeker Drug Company. Bodeker Drug Co. was well-known to generations of Richmond citizens, having been established in 1846, nearly two decades before Owens & Minor Drug Co. was founded. Bodeker Drug was also twice as large as its new owner, giving Owens & Minor a considerable boost to its business and lending the company a new name: Owens, Minor & Bodeker Drug Co.
In 1995, the company was named to the Fortune 500. Craig Smith took on the role of executive vice president and Chief Operating Officer, while G. Gilmer Minor, III remained president. However, by 2005, Minor had stepped down, relinquishing title of Chief Executive Officer, but remaining Chairman of the Board. Craig Smith was named as Chief Executive Officer.
On September 30, 2006, O&M acquired the direct-to-consumer distributor McKesson Medical-Surgical Inc., a business unit of McKesson, for $152.1 million.
Executive leadership
Craig R. Smith, 57, has been the President and Chief Executive Officer of Owens & Minor since 2005. After joining the company in 1989, he served as President and Chief Operating Officer from 1999 until 2005 and as Chief Operating Officer from 1995 to 1999. Mr. Smith has been a director since 2005. He also serves on the SunTrust Central Virginia Richmond Advisory Board.
Compensation
While CEO of Owens and Minor in 2008, Craig R. Smith earned a total compensation of $2,982,637, which included a base salary of $788,077, a cash bonus of $1,080,000, stocks granted of $1,072,516, and no options.
Scandals
In early 2010, the company came under fire for employee discrimination. And The Pittsburgh division's refusal to hire African Americans.