8-KLeadership ChangesExhibits & Filings

MCKESSON CORP 8-K Report, Executive Changes (Apr 26, 2019)

Filed April 26, 2019For Securities:MCK

Summary

McKesson Corporation (MCK) announced the retirement of its Executive Vice President and Chief Human Resources Officer, Jorge Figueredo, effective September 30, 2019. Mr. Figueredo is a named executive officer, and his departure will not significantly impact the company's operational or financial trajectory as outlined in this filing. The report focuses primarily on the procedural aspects of his retirement and associated compensation arrangements. While the filing does not contain material financial updates or strategic shifts, it does detail the terms of Mr. Figueredo's retirement package. This includes provisions for accelerated vesting of certain long-term awards and a prorated fiscal year 2020 bonus, ensuring a smooth transition and acknowledging his service to the company. Investors should note that this 8-K is mainly administrative and does not reflect any new business developments or performance metrics.

Key Highlights

  • 1Jorge Figueredo, EVP and Chief Human Resources Officer, announced his retirement effective September 30, 2019.
  • 2Mr. Figueredo is a named executive officer of McKesson Corporation.
  • 3His retirement is effective at the end of the company's second fiscal quarter of fiscal year 2020.
  • 4Mr. Figueredo will receive an additional 'point' for age plus service calculations under incentive plans.
  • 5This provision ensures certain long-term cash and equity awards will vest per their original terms.
  • 6He will also receive a prorated fiscal year 2020 annual cash bonus.
  • 7The filing also notes the inclusion of a press release dated April 26, 2019, as an exhibit.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report the retirement of a key executive, Jorge Figueredo, and to outline the terms of his separation agreement and compensation arrangements.

Based on the information in this filing, Mr. Figueredo's retirement appears to be a standard executive transition. There is no indication that it will have a significant immediate impact on McKesson's overall business operations or financial performance. The company has made arrangements for the vesting of his awards and prorated bonus to ensure a smooth transition.

Mr. Figueredo will receive an additional 'point' for purposes of the age plus years of service calculation under certain incentive plans, allowing his long-term cash and equity awards to vest according to their original terms. He will also receive his fiscal year 2020 annual cash bonus on a prorated basis and other standard benefits.

No, this 8-K filing does not contain any new financial statements, results of operations, or forward-looking guidance. It is focused on a personnel change and related compensation.