SOURCE: Core-Mark Holding Company, Inc.

Core-Mark Holding Company, Inc.

December 28, 2009 17:00 ET

Core-Mark Announces Organizational Changes to Its Senior Executive Team

SOUTH SAN FRANCISCO, CA--(Marketwire - December 28, 2009) - Core-Mark Holding Company, Inc. (NASDAQ: CORE), announced today a change in the roles of three members of its senior executive team. "These changes are designed to increase the strategic focus of the organization, to broaden the experience of its leadership and to strengthen its ability to meet the needs of its customers," said J. Michael Walsh, Chief Executive Officer.

Scott E. McPherson has been named Senior Vice-President of Corporate Development where he will focus his knowledge of the industry in pursuit of strategic opportunities. The Company expects this new dedicated position to be instrumental in expanding our convenience offering to more customers across North America. Mr. McPherson is a 17 year veteran of Core-Mark who has worked in a number of capacities of increasing responsibility. For the last six years he has successfully led the U.S. Eastern Region, currently as its Senior Vice-President.

Christopher M. Murray will now be responsible for the U.S. Eastern Region as its new Senior Vice President. Most recently, Mr. Murray has served with distinction as Senior Vice President of Marketing where he was responsible for Corporate Purchasing, Marketing, and the Company's strategic marketing initiatives. His 16 years of experience in the convenience retailing business, as well as his five year sales and marketing experience at Core-Mark, should bring an exceptional customer-focused perspective to his new operational role.

Christopher K. Hobson has been promoted to Corporate Vice President of Marketing where he will assume the responsibilities for the marketing group including the strategic "Fresh" and "Vendor Consolidation Initiatives." Mr. Hobson joined Core-Mark in 2000 and has impressed the organization with his ability to communicate and implement the Company's marketing programs in a number of different positions in the field, most recently as President of our largest division. In addition, prior to joining Core-Mark he worked for a number of years as a Market Manager for 7-Eleven. These combined experiences make him the ideal leader to take the marketing team and its initiatives to the next critical level.

"These individuals have the vision, experience, commitment and skill set highly suitable to these new roles. The Board of Directors, including myself, has high expectations that this realignment will enable Core-Mark to more effectively pursue its mission to be the most value-added marketer of fresh and broad-line supply solutions to the convenience industry," said Mr. Walsh.


Core-Mark is one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America. Founded in 1888, Core-Mark provides distribution and logistics services as well as marketing programs to over 24,000 retail locations in 50 U.S. states and five Canadian provinces through 26 distribution centers, two of which Core-Mark operates as third party logistics providers. Core-Mark services traditional convenience retailers, grocers, drug, liquor and specialty stores, and other stores that carry consumer packaged goods. For more information, please visit

Safe Harbor

Except for historical information, the statements made in this press release are forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on certain assumptions or estimates, discuss future expectations, describe future plans and strategies, contain projections of results of operations or of financial condition or state other forward-looking information. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain.

Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, actual results and performance could differ materially from those set forth in the forward-looking statements. Forward-looking statements in some cases can be identified by the use of words such as "may," "will," "should," "potential," "intend," "expect," "seek," "anticipate," "estimate," "believe," "could," "would," "project," "predict," "continue," "plan," "propose" or other similar words or expressions. These forward-looking statements are based on the current plans and expectations of our management and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those discussed in such forward-looking statements.

Factors that might cause or contribute to such differences include, but are not limited to, our dependence on the convenience retail industry for our revenues; uncertain and recent economic conditions; competition; price increases; our dependence on relatively few suppliers; the low-margin nature of cigarette and consumable goods distribution; certain distribution centers' dependence on a few relatively large customers; competition in the labor market and collective bargaining agreements; product liability claims and manufacturer recalls of products; fuel price increases; our dependence on our senior management and key personnel; integration of acquired businesses; currency exchange rate fluctuations; our ability to borrow additional capital; governmental regulations and changes thereto including the Family Smoking Prevention and Tobacco Control Act which was signed into law in June 2009 which granted the U.S. federal Food & Drug Administration ("FDA") the authority to regulate the production and marketing of tobacco products in the United States; earthquake and natural disaster damage; failure or disruptions to our information systems; a general decline in cigarette sales volume; and competition from sales of deep-discount brands and illicit and other low priced sales of cigarettes. Refer to the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2008 filed with the SEC on March 13, 2009 and Part II, Item 1A, "Risk Factors" of any quarterly report on Form 10-Q subsequently filed by us. Except as provided by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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