Meet the McKesson Board of Directors

The McKesson Board of Directors is an integral part of the healthcare industry. It plays a crucial role in supervising the company's management, setting strategic goals, and making important decisions in the best interest of the company and its stakeholders. Therefore, it is essential to know who the members of this board are, their qualifications, responsibilities, and achievements.

What is McKesson and why is its Board of Directors important?

Before delving into the details about the McKesson Board of Directors, it is crucial to know what McKesson is and why it is vital. McKesson is an American healthcare company that provides pharmaceuticals, medical supplies, and health care information technologies. It is one of the largest health care providers globally, with a revenue of over $231 billion in 2020. The company has a significant influence on the healthcare industry given its size and reputation. The McKesson Board of Directors, on the other hand, plays an essential role in the company's governance.

The McKesson Board of Directors is responsible for overseeing the company's management and ensuring that it operates in the best interests of its shareholders. The board comprises experienced professionals from various industries, including healthcare, finance, and technology. They provide strategic guidance and make critical decisions that impact the company's future. The board also ensures that McKesson complies with all legal and regulatory requirements and maintains high ethical standards. Therefore, the McKesson Board of Directors is crucial to the company's success and plays a significant role in shaping the healthcare industry's future.

History of the McKesson Board of Directors

The McKesson Board of Directors has a rich history that spans over centuries. The company was founded in 1833, and in 1853, it became a joint-stock corporation. It went public in 1942 and has since grown into one of the largest healthcare companies in the world. The company's Board of Directors has been a critical part of this growth, providing the necessary guidance, expertise, and direction towards achieving organizational objectives.

Over the years, the McKesson Board of Directors has undergone several changes to adapt to the evolving business landscape. In 2018, the company announced a major restructuring of its board, reducing the number of directors from 14 to 11. This move was aimed at improving the board's effectiveness and decision-making process.

The McKesson Board of Directors has also been at the forefront of promoting diversity and inclusion in the workplace. In 2020, the company appointed a new board member, bringing the total number of women on the board to four out of 11. This move was in line with the company's commitment to promoting gender diversity and ensuring that the board reflects the diversity of its employees and customers.

Current members of the McKesson Board of Directors

The current McKesson Board of Directors has ten members, all of whom bring unique expertise and perspectives to the company's governance. They include:

1. Bradley Lerman - Chairman of the Board
2. John H. Hammergren - Lead Independent Director
3. Maria Teresa Hilado
4. Brianna S. Rooney
5. Edward A. Mueller
6. Nomi Bergman
7. James A. Beer
8. Leslie S. Heisz
9. Susan Salka
10. Margo L. Adams

Bradley Lerman has been a member of the McKesson Board of Directors since 2013 and was appointed Chairman of the Board in 2019. He has over 30 years of experience in the healthcare industry and has held various leadership positions in companies such as UnitedHealth Group and Optum.

Leslie S. Heisz is a new addition to the McKesson Board of Directors, having joined in 2020. She brings over 25 years of experience in the pharmaceutical industry, having previously served as the Chief Commercial Officer of Endo International and as a senior executive at Pfizer.

Qualifications and expertise required to join the McKesson Board of Directors

The McKesson Board of Directors comprises individuals with diverse backgrounds and expertise in various fields. To qualify, candidates must demonstrate extensive executive-level leadership experience coupled with a deep understanding of the healthcare industry. Other desirable skills include digital transformation, financial acumen, supply chain management, strategic planning, and risk management. The board also seeks to foster diversity in terms of gender, ethnicity, and other factors to enhance decision making and bring different perspectives to the table.

In addition to the above qualifications, candidates must possess excellent communication and interpersonal skills to effectively collaborate with other board members and stakeholders. They should also have a track record of ethical and responsible decision making, as well as a commitment to corporate social responsibility and sustainability.

The McKesson Board of Directors values innovation and creativity, and therefore, candidates with experience in disruptive technologies, such as artificial intelligence, blockchain, and telemedicine, are highly sought after. Furthermore, candidates with international experience and a global perspective are preferred, as McKesson operates in multiple countries and regions around the world.

Diversity and inclusion initiatives within the McKesson Board of Directors

The McKesson Board of Directors recognizes that diversity of thought and perspectives is essential in driving innovation and growth. As a result, the board has implemented several initiatives to foster diversity and inclusivity. For instance, it has set a goal to increase gender diversity to at least 30% of its board members by 2025. Additionally, it seeks to increase ethnic and racial diversity and has committed to regular assessments of diversity and inclusion progress.

Another initiative that the McKesson Board of Directors has implemented is the creation of employee resource groups (ERGs). These groups provide a platform for employees to connect with others who share similar backgrounds or experiences. ERGs also serve as a resource for the company to better understand the needs and perspectives of diverse employees.

Furthermore, the board has established a diversity and inclusion council, which is responsible for developing and implementing strategies to promote diversity and inclusion throughout the company. The council works closely with senior leadership to ensure that diversity and inclusion are integrated into all aspects of the business, from hiring and promotion to product development and marketing.

Role and responsibilities of the McKesson Board of Directors

The McKesson Board of Directors has various roles and responsibilities, which include:

• Providing oversight, guidance, and direction to the company's management
• Ensuring that the company's strategic objectives align with the interests of stakeholders
• Monitoring corporate performance, risk management, and compliance with laws and regulations
• Reviewing and approving the company's financial statements and budgets
• Ensuring that the company's operations are ethical, transparent, and socially responsible

Another important responsibility of the McKesson Board of Directors is to evaluate and select the company's executive leadership team. This includes appointing the CEO and other top executives, as well as setting their compensation and performance goals.

The Board also plays a crucial role in overseeing the company's mergers and acquisitions, ensuring that any potential deals align with the company's strategic objectives and create value for shareholders. Additionally, the Board is responsible for establishing and maintaining effective communication with shareholders, providing regular updates on the company's performance and responding to any concerns or questions they may have.

Challenges faced by the McKesson Board of Directors in healthcare industry

The healthcare industry is complex, dynamic, and highly regulated. As such, the McKesson Board of Directors faces significant challenges in ensuring that the company stays competitive, relevant, and responsive to changing trends. Some of the challenges that the board faces include:

• Managing risks associated with the supply chain, such as drug shortages and counterfeit medicines
• Fostering innovation in healthcare delivery, technologies, and data management
• Staying abreast of healthcare policy changes and adapting appropriately
• Maintaining patient trust and ensuring ethical and accountable practices amidst controversies surrounding high drug prices, data breaches, and conflicts of interest

Another challenge that the McKesson Board of Directors faces is the increasing demand for personalized medicine and patient-centered care. Patients are becoming more informed and empowered, and they expect healthcare providers to tailor their treatments to their unique needs and preferences. This requires the board to invest in new technologies and data analytics that can help identify patient-specific factors that affect treatment outcomes, such as genetics, lifestyle, and environmental factors. Additionally, the board must work closely with healthcare providers and payers to ensure that the company's products and services align with the evolving needs of patients and the healthcare system as a whole.

Success stories and achievements of the McKesson Board of Directors

The McKesson Board of Directors has overseen several significant milestones that have propelled the company to its status today. Some of the success stories and achievements include:

• Expanding the company's operations into new markets, such as Europe and Canada
• Establishing a robust IT infrastructure to enhance the efficiency and transparency of operations
• Partnering with leading healthcare organizations to develop innovative solutions for patients and providers
• Launching several initiatives aimed at increasing sustainability, diversity, and community impact

One of the most notable achievements of the McKesson Board of Directors is the company's consistent financial growth over the years. Despite the challenges faced by the healthcare industry, McKesson has managed to maintain a strong financial position, with steady revenue growth and profitability. This success can be attributed to the board's strategic decision-making, focus on innovation, and commitment to delivering value to customers and shareholders.

Future plans and strategies for the McKesson Board of Directors

The McKesson Board of Directors has several plans and strategies for the future to maintain its position as a leader in the healthcare industry. Some of these plans and strategies include:

• Investing in emerging technologies such as AI and blockchain to enhance decision-making and supply chain management
• Expanding the company's existing partnerships and collaborations to foster innovation and provide better healthcare outcomes
• Focusing on diversity and inclusivity initiatives to ensure a diverse range of perspectives that reflect the company's clients' diverse experiences and backgrounds

In addition to these plans, the McKesson Board of Directors is also exploring ways to improve patient care and outcomes. This includes investing in research and development to create new treatments and therapies, as well as improving access to healthcare services for underserved communities.

Another key strategy for the McKesson Board of Directors is to prioritize sustainability and environmental responsibility. The company is committed to reducing its carbon footprint and implementing eco-friendly practices throughout its operations, from supply chain management to waste reduction and recycling.

Comparison with other major healthcare companies' boards

The McKesson Board of Directors is among the most prominent in the healthcare industry, competing with several other industry giants. Despite the competition, the board has managed to stay ahead by continually innovating and contributing ideas that drive the industry forward.

Investor perspectives on the performance of the McKesson Board of Directors

Investors always want to know the company's performance and share the McKesson Board of Director's sentiment. The performance of a company's board of directors reflects on the overall performance of the company. Investors have lauded the McKesson Board of Directors' leadership and ability to drive sustained growth, which ultimately results in shareholder value.

Ethical considerations in the decision-making process for the McKesson Board of Directors

As with any company, ethical concerns always form a crucial aspect of decision-making, especially where health care is involved. The McKesson Board of Directors makes their decisions based on strong ethical principles and values that hold the company, its stakeholders, and the patients they serve, to high ethical standards. The board actively seeks to maintain transparency and accountability in all its practices.

The impact of COVID-19 on the role and decisions made by the McKesson Board of Directors

The COVID-19 pandemic has had a significant impact on the healthcare industry and forced the McKesson Board of Directors to adjust their strategies and operations to better cope with the unprecedented times. The Board has focused on ensuring the continued supply of critical medical supplies and drugs, instituting measures to protect staff and suppliers, and investing in digital solutions where appropriate.

Opportunities for growth and innovation under the leadership of the McKesson Board of Directors

Under the McKesson Board of Directors, McKesson is well-positioned to continue to grow and innovate, adapting to the ever-changing landscape of healthcare. With the right vision, leadership, innovation, and expertise, the Board can steer the company towards excellent performance and exceptional value creation.

In conclusion, The McKesson Board of Directors plays a crucial role in the company's governance and growth. Its leadership, expertise, and guidance have enabled the company to stay competitive and relevant in the healthcare industry, navigating through challenges and seizing opportunities to innovate and grow. By maintaining a focus on ethical and accountable practices, diversity and inclusivity, and sustained growth, the McKesson Board of Directors can continue to lead the way in the healthcare industry.