Summary
McKesson Corporation (MCK) filed an 8-K on July 27, 2017, detailing the results of its 2017 Annual Meeting of Stockholders held on July 26, 2017. The primary focus for investors is the outcome of the votes on key corporate governance and executive compensation matters. All director nominees were elected, and the appointment of Deloitte & Touche LLP as the independent auditor was ratified. However, a significant outcome was the advisory vote on executive compensation, which failed to receive majority support from shareholders.
Key Highlights
- 1All director nominees presented at the 2017 Annual Meeting were elected to serve a one-year term, with substantial 'For' votes across all nominees.
- 2The appointment of Deloitte & Touche LLP as McKesson's independent registered public accounting firm for the fiscal year ending March 31, 2018, was overwhelmingly ratified by stockholders.
- 3The advisory proposal to approve the compensation of the Company's named executive officers (Say-on-Pay) was NOT approved, failing to receive majority support.
- 4Stockholders voted for an annual advisory vote on executive compensation, with '1 Year' receiving the highest number of votes cast.
- 5A stockholder-submitted proposal requesting an independent board chairman was NOT approved.
- 6A stockholder-submitted proposal concerning action by written consent of stockholders was NOT approved.