Omnicare Plunges, Then Recovers Marginally After Sudden CEO Departure

Omnicare OCR has recovered after plunging nearly 10% after the company announced the sudden retirement of CEO Joel Gemunder. Gemunder was also Omnicare’s president since 1981. In May, OCR had a 65% jump in its first-quarter profit. The company is scheduled to report its Q2 earnings on Thursday. OCR’s shares were down 2.60% to $23.99 at 12:15 pm EDT.