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Teamsters Protest McKesson's Worker Abuse And Executive Pay At Shareholder Meeting
Date:7/31/2013

Teamsters Local Union 79.

Steve Vairma, Teamsters Warehouse Division Director said, "McKesson Teamster members from 13 local unions across North America have put the company on notice that an injury to one Teamster is an injury to all. If McKesson wants to wage war on its Florida workers, it's going to find itself fighting all of us."

Inside the shareholder meeting, Vice President Wood demanded that the McKesson board take swift action to stem the escalating labor dispute in Florida and to get labor relations back on track.  

McKesson also faced an investor backlash at the meeting, over the company's excessive executive pay practices and poor corporate governance. 

The Change to Win Investment Group had called for a vote against Chairman Hammergren, and against the board's compensation committee chair and governance committee chair. The Change to Win Investment Group cited concerns over the company's executive pay practices and financial and reputational risks arising from widespread price fixing allegations, which have already led to nearly a billion dollars in legal settlements with the federal government, dozens of states and private payors. 

Two leading proxy advisors had also called for votes against several directors. While the company refused to provide vote results for the directors' seats, a majority of shareholders did reject McKesson's advisory proposal on Hammergren's compensation.

In another blow to the board of directors, a majority of shareholders approved a 'clawback proposal' for the first time ever, despite McKesson's recommendations against it. The Amalgamated Bank Longview Funds and the UAW Retiree Medical Benefits Trust proposed the reform to boost transparency within the company. This proposal signaled to company executives that costly settlements will have consequences and co
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SOURCE International Brotherhood of Teamsters
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