McKesson Executive Pay Plan Rejected After Teamsters Campaign
- Company to split CEO, chairman roles after Hammergren leaves
- Investors vote no on compensation for second time since 2011
Teamsters protest the Mckesson annual meeting at the Irving-Las Colinas Chamber of Commerce in Irving, Texas, on July 26, 2017.
Photographer: Laura Buckman/BloombergThis article is for subscribers only.
McKesson Corp. investors opposed the company’s executive compensation plan after a public vote-no campaign by the International Brotherhood of Teamsters, which accused the drug distributor of aggravating the opioid epidemic.
Investors holding a majority of voted shares rejected the program at the company’s annual meeting Wednesday outside Dallas, the firm said Wednesday in a statement. It’s the second time the board failed to win majority support since advisory votes on pay were first held in 2011.