Top U.S. drug wholesaler McKesson has decided to create an independent board chairman, responding to a Teamsters-led shareholder protest over its role in distributing opioids.
McKesson is dealing with lawsuits, government investigations and fines for its distribution of suspiciously high quantities of opioids. Wholesalers buy large quantities of drugs from manufacturers and then sell them to pharmacies, hospitals and nursing homes.
Wednesday’s move comes even though a majority of shareholders didn’t back the Teamsters’ proposal to separate the CEO and board chairman jobs to provide more oversight. Union members protested before the start of the shareholders meeting in Irving, Texas.
Also, in an advisory vote, shareholders rejected McKesson’s executive pay package. The company said it will consider future changes.