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.
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