Jun
25
McKesson Reduces CEO’s Pay 10% Following Revolt by Investors
By-
Firm’s pay plan received support of about 1-in-4 shareholders
- Risks tied to opioid distribution considered in pay design
McKesson Corp. cut Chief Executive Officer John Hammergren’s pay by about 10 percent following a shareholder revolt spurred by claims about the health-care firm’s alleged role in the nation’s opioid crisis.
The International Brotherhood of Teamsters led a vote-no campaign in 2017 against the firm’s executive pay plan after accusing the drug distributor of aggravating the opioid epidemic. Last year’s pay package received 26.6 percent support, the second-lowest to date and among the worst of S&P 500 companies…
McKesson Reduces CEO’s Pay 10% Following Revolt by Investors
