The $145 Million Dollar Man You’ve Never Heard Of ($MCK)

When I grow up, I want to be the CEO of McKesson Corp (NYSE: MCK).

From The Daily Beast:

John Hammergren, the CEO of the McKesson Corp., a giant medical-supply company in California. Hammergren is the $145 million man, top dog on the latest listing of the country’s highest-paid chief executives. …

Hammergren’s annual total compensation payouts, taken from the company’s public filings with the Securities and Exchange Commission: $46 million in 2011; $55 million in 2010; $37 million in 2009; another $41 million in 2008. Hammergren hadn’t founded the company. Wall Street analysts covering McKesson can tell you of the disappointments and miscues that have marked his tenure. But his haul in the 13 years he has been running McKesson? More than $500 million, according to data provided by Equilar, an executive-compensation data firm. …

Among the other perks he enjoys: a chauffeur to drive his company car, free use of the corporate jet for personal travel, and an extra $17,000 a year to pay for a financial planner because handling all those hundreds of millions is no doubt complicated stuff.

In his first year as CEO, he made just $692,000, meaning his recent compensation has grown at a stunning 38% annually for the last 13 years (using the $46 million, rather than the options-inflated figure). The share price at MCK? Up less than 50% over the same period. 

Good work if you can get it.

 

Author Disclosure: No position

Talk to Frank about Executive Compensation

  • Jason

    Incredible and baffling….