8-KLeadership ChangesRegulation FDExhibits & Filings

MCKESSON CORP 8-K Report, Executive Changes (Apr 30, 2018)

Filed April 30, 2018For Securities:MCK

Summary

McKesson Corporation (MCK) filed an 8-K on April 30, 2018, announcing a change to its Board of Directors. The most significant event detailed is the election of Bradley E. Lerman as a new independent director, effective April 24, 2018. This appointment increased the size of the Board from eight to nine members. Mr. Lerman brings extensive legal and corporate governance experience, having held senior legal roles at Medtronic, Fannie Mae, and Pfizer, as well as experience as a former prosecutor and partner at law firms.

Key Highlights

  • 1McKesson Corporation elected Bradley E. Lerman as a new independent director to its Board of Directors.
  • 2The election of Mr. Lerman increased the size of the Board from eight to nine members.
  • 3Mr. Lerman's term as director will expire at the Company's 2018 Annual Meeting of Stockholders.
  • 4Mr. Lerman has a distinguished career, previously serving as Senior Vice President, General Counsel, and Corporate Secretary at Medtronic.
  • 5He also held executive legal positions at Fannie Mae and Pfizer, and was a partner at major law firms.
  • 6Mr. Lerman has been determined to be independent and meets NYSE and Company director independence requirements.
  • 7Mr. Lerman will receive compensation in accordance with the Company's standard arrangement for non-employee directors, including a prorated grant of restricted stock units valued at $45,000.

Frequently Asked Questions

Bradley E. Lerman is a new independent director appointed to McKesson's Board. He was chosen for his extensive legal and corporate governance background, having served in senior legal roles at prominent companies like Medtronic, Fannie Mae, and Pfizer, as well as experience in private practice and as a prosecutor.

Mr. Lerman's election as a director increased the size of McKesson's Board of Directors from eight to nine members.

Mr. Lerman will be compensated according to McKesson's standard program for non-employee directors. This includes a prorated award of restricted stock units (RSUs) with a grant date value of $45,000, with the exact number of RSUs determined by the stock price on the grant date.

Yes, the Board of Directors has determined that Mr. Lerman is independent and meets the applicable director independence requirements of the New York Stock Exchange and McKesson's own standards.