Shareholders of Drug Distributor Vote to Reject CEO Compensation Package
July 28, 2017 – Pennsylvania State Treasurer Joe Torsella, Illinois State Treasurer Michael Frerichs and West Virginia State Treasurer John Perdue released the following statements today after McKesson Corp. announced this week that it would split the roles of Board Chair and CEO, beginning with the Company’s next CEO. Shareholders also voted against the compensation arrangements for the CEO and other top executives amid concerns related to the company’s role in the ongoing opioid crisis.
“I welcome the action taken by McKesson's board and shareholders, which are consistent with our recommendation to provide for an independent board chair. Although this first step is encouraging, we strongly urge the board to direct that a report be prepared within six months that examines the scope of the opioid addiction epidemic in America, its causes and impacts on public health and resources, and most importantly, compassionate responses to help our fellow citizens break their addictions."Pennsylvania State Treasurer, Joe Torsella