McKesson's Chairman and CEO John Hammergren has set a new record in corporate America: Largest pension around.
The drug distribution company disclosed in a regulatory filing last week that Hammergren was entitled to a $159 million lump-sum payment for his pension. The size of his pension was first reported by the Wall Street Journal on Tuesday.
Several compensation consultants say it is by far the largest pension for a current executive of a public company. For CEOs of companies in the Standard & Poor's 500 index that award pensions, the average benefit is about $7 million. That's according to GMI Ratings, which tracks executive pay.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
