Who is N. Anthony Coles, M.D., and what is his background?

Dr. N. Anthony Coles is a seasoned executive with extensive experience in the biopharmaceutical and pharmaceutical industries. He previously served as President, CEO, and Chairman of Onyx Pharmaceuticals and held various leadership roles at NPS Pharmaceuticals, Merck & Co., Bristol-Myers Squibb Company, and Vertex Pharmaceuticals Incorporated.

What impact does Dr. Coles' appointment have on McKesson's Board?

Dr. Coles' appointment increases the size of McKesson's Board of Directors from nine to ten members. He has been deemed an independent director and will contribute to the Board by serving on the Compensation Committee and the Finance Committee.

How will Dr. Coles be compensated for his role as a director?

Dr. Coles will receive compensation in accordance with McKesson's standard arrangement for non-employee directors. This includes a prorated grant of restricted stock units (RSUs) with a value of $37,500, based on the company's stock price on the grant date, which is expected to be May 6, 2014, or the opening of the next trading window after the Q4 FY14 earnings release.

Are there any related party transactions or special arrangements for Dr. Coles' appointment?

The filing states that there were no arrangements or understandings between Dr. Coles and any other persons concerning his selection as a director, and there are no related party transactions between Dr. Coles and McKesson Corporation. He has also executed the company's standard form of Indemnification Agreement.

MCK 8-K: Leadership Changes & Regulation FD

Summary

McKesson Corporation (MCK) announced a significant addition to its Board of Directors, appointing N. Anthony Coles, M.D., effective April 29, 2014. This move expands the Board from nine to ten members and brings a wealth of experience from the biopharmaceutical and pharmaceutical industries, including his previous roles as CEO of Onyx Pharmaceuticals and leadership positions at NPS Pharmaceuticals, Merck, Bristol-Myers Squibb, and Vertex Pharmaceuticals. Dr. Coles has been deemed independent and will serve on the Compensation and Finance Committees. His appointment is in line with McKesson's standard director compensation practices, which include prorated restricted stock units (RSUs) with a grant date value of $37,500. This strategic addition of experienced leadership signals a continued focus on governance and potentially strategic growth within the healthcare sector.

Key Highlights

1N. Anthony Coles, M.D., appointed as a new independent director to the Board, effective April 29, 2014.
2Board size increased from nine to ten members.
3Dr. Coles brings extensive executive experience from the biopharmaceutical and pharmaceutical sectors, including CEO roles at Onyx Pharmaceuticals and NPS Pharmaceuticals.
4Dr. Coles appointed to serve on the Compensation Committee and the Finance Committee.
5The company confirmed Dr. Coles meets director independence requirements.
6Dr. Coles will receive standard non-employee director compensation, including prorated restricted stock units (RSUs) valued at $37,500.
7The appointment was announced via a press release on March 5, 2014.

MCKESSON CORP 8-K Report, Executive Changes (Mar 5, 2014)

Summary

Key Highlights

Frequently Asked Questions