8-KLeadership Changes

MCKESSON CORP 8-K Report, Executive Changes (Apr 28, 2008)

Filed April 28, 2008For Securities:MCK

Summary

McKesson Corporation (MCK) announced a change to its Board of Directors, appointing Edward A. Mueller as a new director effective April 23, 2008. This appointment increased the size of the Board to ten members. Mr. Mueller brings extensive experience in executive leadership, having previously served as Chairman and CEO of Qwest Communications International Inc. and CEO of Williams-Sonoma Inc., among other roles. His appointment is a significant development for the company's governance structure. Investors should note that Mr. Mueller's election was based on his qualifications and there are no disclosed related-party transactions. He will be compensated according to the company's standard non-employee director compensation plan, which includes a prorated grant of restricted stock units. This move suggests a focus on strengthening the board's expertise and oversight.

Key Highlights

  • 1Edward A. Mueller was elected as a new director to the McKesson Corporation Board, effective April 23, 2008.
  • 2The Board of Directors size was increased to ten members following Mr. Mueller's election.
  • 3Mr. Mueller possesses significant executive leadership experience, including CEO roles at Qwest Communications International Inc. and Williams-Sonoma Inc.
  • 4His appointment is supported by the Committee on Directors and Corporate Governance.
  • 5There are no reported arrangements or understandings related to his selection, nor any disclosed related-party transactions.
  • 6Mr. Mueller will receive compensation in line with the company's standard non-employee director arrangements.
  • 7He was granted 703 restricted stock units as a prorated equity award.

Frequently Asked Questions

Edward A. Mueller is a new director appointed to McKesson's Board. He has a substantial executive background, most recently serving as Chairman and CEO of Qwest Communications International Inc. and previously as CEO of Williams-Sonoma Inc. He also has prior experience as President and CEO of Ameritech Corporation and has served on other corporate boards, including Williams-Sonoma Inc. and The Clorox Company.

Mr. Mueller was elected to the Board of Directors upon the recommendation of the Committee on Directors and Corporate Governance. His appointment is intended to leverage his extensive experience in executive leadership and corporate governance to strengthen the Board's oversight and strategic guidance for McKesson.

Mr. Mueller will be compensated according to McKesson's standard compensation plan for non-employee directors. This includes a prorated grant of 703 restricted stock units, reflecting his partial service for the current fiscal year, in accordance with the company's 2005 Stock Plan.

The filing states that there were no arrangements or understandings between Mr. Mueller and any other persons concerning his selection, and there are no disclosed related-party transactions between Mr. Mueller and McKesson Corporation.