Summary
McKesson Corporation (MCK) announced a significant leadership transition in an 8-K filing on November 1, 2018, effective October 29, 2018. Long-time CEO and Chairman John H. Hammergren will retire from his positions on March 31, 2019. This marks the end of an era for the pharmaceutical distribution giant, and investors will be closely watching the transition. The company has appointed Brian S. Tyler, currently President and Chief Operating Officer, to succeed Mr. Hammergren as CEO, effective April 1, 2019. Mr. Tyler has extensive experience within McKesson, having held various leadership roles across different segments of the business, including McKesson Europe and North American Pharmaceutical Distribution. Additionally, Edward A. Mueller, the current Lead Independent Director, will assume the role of independent Chairman of the Board, also effective April 1, 2019. The press release detailing these changes has been furnished as an exhibit.
Key Highlights
- 1John H. Hammergren to retire as CEO and Chairman of the Board effective March 31, 2019.
- 2Brian S. Tyler, currently President and COO, appointed as the new CEO, effective April 1, 2019.
- 3Edward A. Mueller, Lead Independent Director, appointed as independent Chairman of the Board, effective April 1, 2019.
- 4Brian S. Tyler has a long tenure and diverse experience within McKesson, including leadership in Europe and North American pharmaceutical distribution.
- 5Mr. Tyler is expected to be appointed to the Board of Directors effective April 1, 2019.
- 6McKesson's Compensation Committee has not yet determined Mr. Tyler's compensation for his new CEO role.
- 7The press release announcing these changes is furnished as Exhibit 99.1.