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McKesson Reduces CEO's Pay 10% Following Revolt by Investors

  • Firm’s pay plan received support of about 1-in-4 shareholders
  • Risks tied to opioid distribution considered in pay design
John Hammergren

John Hammergren

Photographer: Aaron P. Bernstein/Bloomberg
Updated on

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.