McKesson at fault for opioid epidemic, Teamsters say

McKesson Corp. CEO John Hammergren earned $692 million in the past 10 years, and The Teamsters labor union planned to protest his compensation at the drug distributor’s annual shareholder meeting.

The Teamsters argue that McKesson, a distributor of oxycodone and hydrocodone pills, played a role in the ongoing U.S. opioid epidemic, according to CNNMoney reports.

"For years, McKesson allowed opioids to flood into our communities, and despite the irreparable harm and growing reputational and financial risks, the company has continued to reward [Hammergren] with ballooning bonuses and some of the most lucrative pay packages in the country," Teamsters General Secretary-Treasurer Ken Hall said in a statement. "We can't afford another decade of business as usual at McKesson.”

The Teamsters, which holds more than $30 million in McKesson shares, has filed a shareholder proposal to install an independent board chairman who hasn’t previously served as a top executive. 

Hammergren, who has been CEO of McKesson since 2001, has served as chairman of the company since 2002 as well.

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