JOHNSON CITY, N.Y. – Innovation announced on Tuesday that Marvin Richardson will become the company’s chief executive officer effective April 25th. Richardson replaces Mary Reno, who has served as the chief executive officer since 1998. Ms. Reno will continue to serve on the company’s board of directors as chairwoman emeritus.
Richardson has served as co-president since December 2019 when an investor consortium led by Greg Wasson, former Walgreens Boots Alliance CEO, acquired a majority stake in the company. Richardson is a 37-year veteran of pharmacy and health care, and an established entrepreneur, having co-founded Capstone Consulting, a pharmacy automation consulting company, in 2015. Prior companies founded and co-owned by Richardson include Low Cost Health Care, PrairieStone Pharmacies, and DailyMed, a compliance packaging company. He has also worked as a corporate leader with Rite Aid and Walgreens, where he began his pharmacy career.
“Innovation is here for our customers who provide critical pharmaceutical care,” said Marvin Richardson, CEO, Innovation. “We believe that advancing the profession of pharmacy is a critical component for improving patient care. Innovation, with its industry leading technology and software, is transforming pharmacy practice in order to free up time for pharmacists across the country to focus on our singular and collective motivation – the patient,” added Richardson.
Ms. Reno has spent more than thirty years in executive roles in the health care industry and worked closely with Innovation founder and former CTO Harry Boyer in 1997 to lead the firm and its automation platform developed for the retail pharmacy industry. Since its launch, Innovation has grown in both revenue and employees, and now stands as the industry leader in providing high-volume pharmacy automation systems.
“These changes further position Innovation with the professional management necessary to capitalize on the explosive growth opportunities before us. I’m grateful to have had the opportunity to lead Innovation, pleased to hand over the reins to Marv, and expect Innovation to flourish under his leadership while remaining true to the values our family established when we began Innovation,” said Ms. Reno.
Innovation also announced that co-president Tom Boyer would assume the role of chief strategy officer for the company. Boyer will lead Innovation’s strategy initiatives by formulating and communicating company goals, and developing the plans and coordination with Innovation customers and industry partners to advance the company’s position of industry leadership.