In an effort led by the International Brotherhood of Teamsters, a long-term shareholder in McKesson, a majority of McKesson shareholders voted to reject the executive pay plan. Teamsters General Secretary-Treasurer Ken Hall traveled to Irving, Texas to speak at the shareholder meeting and confront CEO John Hammergren and the entire board of directors directly about the failed oversight of opioid distribution that has fueled this public health crisis.
McKesson shareholders voted at their annual meeting Wednesday to reject the proposed compensation for CEO John Hammergren and other top executives after the Teamsters raised concerns about the company's role in the U.S. opioid crisis.
IRVING, TEXAS -- In a critical victory for corporate citizenship and responsibility, McKesson shareholders defeated on Wednesday the company’s “Say on Pay” executive compensation vote and threw their support behind much needed corporate governance reforms aimed at holding the nation’s largest drug distributor accountable for its role in fueling the opioid crisis. In an effort led by the International Brotherhood of Teamsters, a long-term shareholder in McKesson, a majority of McKesson shareholders voted to reject the board’s request to approve McKesson’s executive compensation policies. The Teamsters argued the company’s executive pay practices risked insulating CEO John Hammergren’s from the legal, political and reputational risks surrounding the company’s role in the opioid crisis. In addition, the company acquiesced to the Teamsters demand to separate the positions of Chair and CEO.
McKesson CEO John Hammergren has earned $692 million in the past 10 years. The Teamsters think that's too much.
Teamsters gather outside McKesson shareholder meeting to take aim at ridiculous compensation package.
Yesterday morning a group of Teamster furniture movers who have been locked out by Farmingdale-based Waldner’s Business Environments since July 5th, crashed a meeting of the Suffolk County Legislature to protest a politician’s family ties to the union busting company.
With the passage and implementation of the City of Raleigh’s budget on July 1, police officers represented by Teamsters Local 391 are expected to see pay increases of anywhere from 3 percent to 13 percent. The new budget also increases the starting base salary for police to $40,000 annually.
The largest drug distributor in the US has been accused by the Teamsters union of a pivotal role in the country’s opioid epidemic. The union is urging shareholders to force a public reckoning this week, a move prompted by one member’s heartrending account of the death of his son.