John Hammergren

John Hammergren
Born John H Hammergren
(1959-02-20) 20 February 1959
Saint Paul, United States
Occupation CEO of McKesson Corporation

John H Hammergren (born 20 February 1959) is an American businessman. He is the chairman, president, and CEO of McKesson Corporation since 1999.[1]

Biography

John Hammergren was born in St. Paul, Minnesota on 20 February 1959. His father was a traveling salesman in the healthcare industry.[2]

John Hammergren attended Jefferson High School in Alexandria, Minnesota. He then went on to earn his bachelor's in business administration from the University of Minnesota in 1981.[2][3]

After graduation, John Hammergren worked 10 years at the American Hospital Supply, while following an MBA program from Xavier University in 1987. When American Hospital Supply was acquired, he left and joined Lyphomed. In 1991, he was hired at Kendall Healthcare Products in the midst of a LBO. Kendall Healthcare was reanimated and sold to Tyco Healthcare in 1994.[2]

In 1996, John Hammergren was hired by McKesson to run the division that sells prescription drugs to hospitals (McKesson Health Systems). In 1999, after McKesson's fraud scandal, he was named president and co-CEO of the company, and became sole CEO in 2001, and chairman of the board in 2002[4]

Highest paid CEO

In December 2011 it was revealed that Hammergren was the highest paid CEO in the US with total remuneration in excess of $700m[5] (mostly in stock options[6]). According to executive-compensation data firm Equilar, from 1999 to 2012, John Hammergren hauled over $500 million in revenue.[4]

Annual total compensation payouts
1999 2008 2009 2010 2011 2012 2013 2014 2015 2016
(in million $) 0.692[4] 41[4] 37[4] 55[4][7] 46[4]

In 2013, Glenn Gray, an employee of McKesson, asked for wages raises during a company annual meeting. Four months later, he was fired. In June 2014, he returned to the company's annual meeting to ask that Hammergren's $292 million severance package be redistributed to low-paid employees. The proposal was defeated by the shareholders.[8]

Rewards

Other tenures

Book

References

  1. ↑ Sheikha Mozah Bint Nasser Al-Missned (1970-01-01). "Sheikha Mozah Bint Nasser Al-Missned - Forbes". People.forbes.com. Retrieved 2015-07-30.
  2. 1 2 3 4 "John H. Hammergren 1959— Biography - Builds strong foundation for future challenges, Entrepreneur within the corporation". Referenceforbusiness.com. Retrieved 2015-07-30.
  3. ↑ "List of Public Companies Worldwide, Letter - Businessweek - Businessweek". Investing.businessweek.com. Retrieved 2015-07-30.
  4. 1 2 3 4 5 6 7 Gary Rivlin (1 February 2016). "He’s One of the Nation’s Highest-Paid CEOs—and You’ve Never Heard of Him". Thedailybeast.com. Retrieved 2016-07-31.
  5. ↑ Rushe, Dominic (14 December 2011). "Revealed: huge increase in executive pay for America's top bosses". The Guardian. London.
  6. ↑ Rushe, Dominic (13 April 2012). "Goldman Sachs chief takes 35% pay cut – to $12m | Business | guardian.co.uk". The Guardian. London: GMG. ISSN 0261-3077. OCLC 60623878. Retrieved 3 May 2012.
  7. ↑ Strauss, Gary (8 July 2011). "CEOs reap huge payouts in 2011, corporate filings show". USA Today. Retrieved 2015-07-30.
  8. ↑ Dawn Kopecki (30 July 2014). "Fired McKesson Worker Loses Fight on CEO Hammergren's Potential Exit Pay". Bloomberg.com. Retrieved 2016-07-31.
  9. ↑ "The Best-Performing CEOs in the World". Hbr.org. November 2014. Retrieved 2016-07-31.
  10. ↑ "The Best-Performing CEOs in the World". Hbr.org. November 2015. Retrieved 2016-07-31.
  11. 1 2 3 "John H. Hammergren". Mckesson.com. Retrieved 2016-07-31.

See also


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