John Hammergren
Company: McKesson
Compensation: $51.7 million
John Hammergren, CEO of the pharmaceutical and medical device distributor McKensson, has not only one of the highest pay packages in corporate America, but one of the most generous golden parachutes. He could make up to $303.4 million if he is to leave the company, according to data compiled by Bloomberg.
@Gt2Ow3W-4zru: No, that's the board election process rules that specifically changed in 2007. Just one of many. Hammergren's exit bonus is crafted as shark repellent plain and simple. It's a pretty well known tactic.
@Gt2Ow3W-zwy......His exit bonus is not designed to be a poison pill. The companies poison-pill defense expired in January of 2007. His exit bonus is designed to benefit himself. John is not the company. No part of his compensation serves to protect the company.
Perhaps its you who should do a little homework yourself.
"John is a winner, you are a loser"....... Really now ,I think someone drank a little to much kool-Aid! Clearly you have never even meet John.
John has been a good CEO for McKesson and for the shareholders, no doubt. He could have done a better job preparing for situations like what happened with Rite Aid and the impact of the generic cliff. Where John becomes a horrible CEO is in the way he treats employees. During the full time I was with McKesson, the merit pool never went above 4%, no matter how well the company was doing, and no matter how well your BU was doing. If your BU increase revenue by 20%, the raise pool was still 4%. If your BU lost 20% of its revenue, then the raise pool usually remained at 4% but could be lower. It was never higher. You can't deny that without its employees McKesson would be nothing. If John is going to be rewarded for his good performance then the Business Units that have good performance should rewarded as well. McKesson does this so they can have a fixed salary growth built into their budgeting process and nothing more. It is a shame to see a man who is making hundreds of millions of dollars get a raise of multiple millions of dollars when he is only able to give his employees 4%. McKesson boasts of providing a 16% return to investors, but you don't see them returning anything but a standard COLA raise.
Please explain how John Hammergren is valuable to McKesson? If he was so valuable would McKesson be in this sad state of affairs?
You don't know what you are talking about. His exit bonus is designed to be a poison pill to fend off anyone trying to take over the company. That way they know they would have to pay him the first half billion of any money put into the company.
Maybe you should do the work to make yourself as valuable to a company someday as he is to McKesson, instead of just complaining about what he gets. If he got rid of people like you, he's making the right moves.
Ya right
What have you done to change this state of affairs? That's right, you've done nothing. John is a winner, you are a loser.