Workers, Investors to Demand Accountability from Board of Directors
Over Employee Intimidation, CEO Pay and Price Fixing Scandal
(San Francisco, CA) – The San Francisco-based McKesson Corporation [NYSE: MCK], North America’s leading pharmaceutical distributor, will face a large Teamsters protest outside its shareholder meeting on July 31 due to the abusive treatment of workers at the company’s distribution facility in Lakeland, Fla. Despite its workers voting for Teamster representation more than a year ago, the company still will not agree to a first contract that provides fair wages and affordable health care. McKesson has hired a union-busting law firm and has threatened and intimidated its Lakeland employees.
McKesson will also face an investor backlash inside the meeting over the company’s excessive executive pay practices and poor corporate governance. The Change to Win Investment Group has called for a vote against Chairman John Hammergren – as well as two other board members – citing concerns about the company’s pay practices and financial and reputational risks arising from widespread price fixing allegations.
The price fixing allegations have already led to nearly a billion dollars in legal settlements with the federal government, dozens of states and private payors. Meanwhile, McKesson’s board has lavished Chairman and CEO Hammergren with a total compensation of roughly $50 million a year, as well as a pension with an estimated value of $159 million.
“It is no wonder health care costs are skyrocketing,” said Rome Aloise, International Vice President of the Teamsters Union and President of Teamsters Joint Council 7, which represents 100,000 Teamsters in Northern California. “Teamsters won’t stand by while McKesson fleeces workers, investors and the American public.”
Teamsters Joint Council 7
State Sen. Leland Ye (D, 8th District)
Rally for Justice at McKesson
Wednesday, July 31, 2013, 7:15 a.m.
Park 55 Hotel
55 Cyril Magnin St, San Francisco, Calif.
Teamster 18-wheeler truck, banners, rally signs, 15-foot inflatable “Fat Cat”