Things should be hopping this Wednesday at the annual meeting of the
medical products giant McKesson. Activist shareholders will be trying
to water down the severance package that’s awaiting company CEO John
Hammergren.
If McKesson changes hands in a buyout, turns out,
Hammergren currently stands to walk away with $292 million in
severance. Hammergren is also sitting on a rather hefty stash of
McKesson stock and options already awarded to him. He’ll exit McKesson,
Businessweek notes, with a total windfall of $616.6 million.
McKesson’s board of directors is, of course, opposing any
move to downsize Hammergren’s exit package. Generous rewards, the
company informs us, remain “an important tool for motivating our executives.”
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