SAN FRANCISCO--(BUSINESS WIRE)--McKesson Corporation (NYSE:MCK) today announced that John H. Hammergren,
chairman and chief executive officer (CEO), has decided to retire,
effective March 31, 2019. McKesson’s Board of Directors has unanimously
selected Brian Tyler, 51, currently president and chief operating
officer (COO), to succeed Hammergren as CEO, effective April 1, 2019.
Tyler will also remain as president.
Edward Mueller, 71, currently lead independent director on McKesson’s
Board of Directors, will succeed Hammergren as an independent chairman
of the Board, also effective April 1, 2019.
“It has been an honor to serve as McKesson’s CEO for nearly 20 years,”
Hammergren said. “We are making solid progress with our strategic growth
initiative and the company is in a strong financial position. This is
the right time to turn the leadership reins over to the next generation
and no one is better equipped than Brian to lead McKesson into the
future. He is a gifted leader with deep industry knowledge and an
unwavering commitment to enhancing value for our customers and their
patients.”
Under Hammergren’s leadership, McKesson has become the leading provider
of healthcare services and information technology solutions that help
organizations across the healthcare industry improve their business
performance and deliver better care. In the time since he became CEO on
April 1, 2001, the company has more than quadrupled revenues to $208
billion, expanded into global markets, and advanced to number six on the
Fortune 500, reflecting total shareholder returns of more than 400% or
9% on a compound annual basis (as of October 31, 2018). These results
reflect significant outperformance compared to the S&P 500 Health Care
Index.
Hammergren took over the company at a time of crisis and created its
ICARE shared principles, which serve as the foundation for McKesson’s
culture and values across the globe. Recognizing his tremendous track
record of success, Harvard Business Review named Hammergren as one of
their 100 “Top Performing CEOs in the World.”
“There are few leaders who have had such an impact on a company and on
an entire industry,” said Mueller. “Over nearly two decades, John has
built one of the greatest organizations in healthcare—a company that has
had a far-reaching, positive impact on patient care in every setting. On
behalf of McKesson’s entire Board, I want to thank John for his
countless contributions and tremendous leadership since assuming the CEO
role.”
Brian Tyler to be new CEO & President
Currently president and COO of McKesson, Tyler is a 21-year McKesson
veteran. He has led nearly every major business within the company as
well as McKesson’s corporate strategy and business development unit. His
previous McKesson leadership roles include:
-
McKesson Europe: Tyler served as chairman of the Management
Board (CEO) of McKesson Europe, where he drove revenue growth to $27.3
billion by focusing on operational excellence, collaboration and
innovation.
-
North American Pharmaceutical Distribution Services: He had
overall leadership responsibility for McKesson’s pharmaceutical
distribution and related businesses in North America, including
McKesson U.S. Pharmaceutical, McKesson Canada, McKesson Specialty
Health and McKesson Pharmacy Systems & Automation.
-
Corporate Strategy and Business Development: Tyler served as
executive vice president of Corporate Strategy and Business
Development where he led the overall corporate strategy for McKesson.
Tyler helped guide strategy development across McKesson’s business
units as well as led the mergers and acquisitions function across the
company.
-
U.S. Pharmaceutical: He oversaw the business unit’s operations
and the distribution of pharmaceuticals and other healthcare related
products to customers in four primary segments: national and regional
retail pharmacy chains; retail independent pharmacies; hospital
providers; and mail pharmacy.
-
McKesson Medical-Surgical: He led the nation’s largest
alternate site distributor to physician offices, long-term care
facilities, surgery centers, direct-to-patient home care and
occupational health, and employers.
-
McKesson Specialty Care Solutions: Tyler served as president
with responsibility for distribution, logistics and pharmacy
operations, marketing services, and Prospective Health, Inc.
-
McKesson Distribution Solutions: He joined the company as vice
president of strategy and business development for McKesson
Distribution Solutions in 1997.
“Brian is the ideal leader to guide McKesson through the next era,” said
Mueller. “Having spent his entire career in healthcare, he has a strong
point of view on the future of the industry, both in the U.S. and
globally, as well as how McKesson will continue to play an integral role
in improving care while driving value for McKesson’s shareholders.”
Tyler earned his Ph.D. and M.A. from the University of Chicago,
Department of Economics in 1994, where he studied under a grant from the
National Science Foundation, and earned his B.A. in economics with high
honors from the University of California Santa Cruz in 1989. Prior to
joining McKesson, he spent three years at Integral, Inc. as a senior
associate, Health Care Consulting in Cambridge, MA.
Ed Mueller to be new Chairman of the Board
Mueller, currently lead independent director on McKesson’s Board of
Directors, will provide strong leadership continuity for McKesson as
chairman of the company’s Board of Directors. He has been a director of
McKesson since April 2008 and has served as the lead independent
director since July 2013.
“Ed Mueller will be a terrific chairman of our Board of Directors,” said
Hammergren. “During his 10 years of service on our Board, Ed has
developed a deep knowledge of McKesson and our industry. He has the
respect of our board, McKesson’s leaders and our investors.”
Mueller held the position of chairman and chief executive officer of
Qwest Communications from August 2007 to April 2011. He has also served
as chief executive officer of Williams-Sonoma, Inc. and Ameritech
Corporation, a subsidiary of SBC Communications. He was formerly a
director of The Clorox Company, CenturyLink, Inc., Williams-Sonoma, Inc.
and VeriSign, Inc.
The entire Board will work closely with Hammergren, Tyler and Mueller
over the coming months to ensure a smooth transition. Hammergren will
remain chairman of the Board for Change Healthcare and will continue to
support McKesson in an advisory capacity after his retirement.
About McKesson Corporation
McKesson Corporation, currently ranked 6th on the FORTUNE
500, is a global leader in healthcare supply chain management solutions,
retail pharmacy, community oncology and specialty care, and healthcare
information technology. McKesson partners with pharmaceutical
manufacturers, providers, pharmacies, governments and other
organizations in healthcare to help provide the right medicines, medical
products and healthcare services to the right patients at the right
time, safely and cost-effectively. United by our ICARE shared
principles, our employees work every day to innovate and deliver
opportunities that make our customers and partners more successful — all
for the better health of patients. McKesson has been named the “Most
Admired Company” in the healthcare wholesaler category by FORTUNE, a
“Best
Place to Work” by the Human Rights Campaign Foundation, and a top military-friendly
company by Military Friendly. For more information, visit www.mckesson.com.
