Teamsters Push Back on McKesson CEO's Pay at Irving Shareholders Meeting

McKesson Corp. investors opposed the company's executive compensation plan after a public vote-no campaign by the International Brotherhood of Teamsters, which accused the drug distributor of aggravating the opioid epidemic.Investors holding a majority of voted shares rejected the compensation plan at the company's annual meeting Wednesday in Irving, the firm said Wednesday in a statement. San Francisco-based McKesson opened a new pharmaceutical campus in Irving earlier this year that employs 1,000 people.It's the second time the board failed to win majority support since advisory votes on pay were first held in 2011."McKesson has become embroiled in what is perhaps America's most tragic failure of corporate integrity: the prescription-opioid crisis, which claims the lives of 62 Americans every day," Ken Hall, general secretary-treasurer for the Teamsters, said in prepared remarks for the meeting, where union members picketed outside the Irving Convention Center. "Independent board leadership is critical going forward in light of the current crisis facing the company."  Continue reading...

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