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McKesson Corp. Responds to Shareholder Feedback, Changes Executive Comp Program
The Wall Street Journal; subscription may be required Link to more items from this source
Mar. 2, 2014
"McKesson said the changes to pay structure announced Friday are intended to address feedback from shareholders, who voted 'no' by more than a 3-to-1 margin last year on a nonbinding resolution to approve McKesson's executive-compensation package.... [CEO John] Hammergren said he was voluntarily reducing his pension benefit because it had become 'a source of distraction' for the company. The revised $114 million pension benefit will be a fixed amount in cash, the company said, not subject to big potential moves that can result from factors like changes in interest rates. McKesson also said it had made 'adjustments' to the financial measurements it uses in determining incentive pay."

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