Summary
McKesson Corporation (MCK) announced a significant leadership transition within its finance department. Effective May 28, 2026, Britt J. Vitalone will retire as Executive Vice President and Chief Financial Officer (CFO), concluding his tenure as an employee on July 1, 2026. Mr. Vitalone will transition to a non-employee advisor role, providing consulting services to the company for a monthly fee of $50,000. Concurrently, McKesson has appointed Kenny K. Cheung as the new Executive Vice President and CFO, effective May 29, 2026. Mr. Cheung brings extensive financial leadership experience from his previous roles at Sysco Corporation and The Hertz Corporation, including guiding Hertz through its Chapter 11 restructuring. His compensation package includes a substantial sign-on bonus, restricted stock units, a competitive base salary, and performance-based incentives, reflecting the importance of this executive transition.
Key Highlights
- 1Britt J. Vitalone is retiring as CFO of McKesson, with his last day as CFO being May 28, 2026.
- 2Mr. Vitalone will transition to a non-employee advisor role and will receive a monthly fee of $50,000.
- 3Kenny K. Cheung has been appointed as the new Executive Vice President and Chief Financial Officer, effective May 29, 2026.
- 4Mr. Cheung has a strong background, including his recent role as CFO at Sysco Corporation and his experience at The Hertz Corporation.
- 5Mr. Cheung's compensation package includes a $3,500,000 sign-on bonus and $6,000,000 in sign-on restricted stock units.
- 6His ongoing compensation includes an annual base salary of $1,050,000, eligibility for a Management Incentive Plan with a target bonus of 125%, and significant equity awards for fiscal years 2027-2029.