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.
|San Francisco-based McKesson says the pension was shaped by an employment agreement put in place more than 14 years ago, combined with outstanding company performance.
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