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2000This web site is in no manner affiliated with any Kaiser entity and the for profit Permanente Permission is granted to mirror this web site - Please acknowledge where the material was obtained. | ABOUT US | CONTACT | MCRC | kaiserpapers.com/businesspractices Originally Posted at: http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20040128005919&newsLang=en January 28, 2004
05:04 PM US Eastern Timezone
"We are delighted to welcome Dr. Lawrence to the McKesson Board," said John H. Hammergren, chairman and chief executive officer. "He brings vast experience in healthcare from his many years serving Kaiser, one of the nation's largest and most-advanced health systems, and as a physician. This unique perspective, as well as his demonstrated leadership skills, will be tremendous assets to the Board." Dr. Lawrence joined Kaiser in 1981. He was named Chief Executive Officer of Kaiser Foundation Health Plan, Inc., and Kaiser Foundation Hospitals in 1991 and Chairman of the Board in 1992. He retired December 31, 2002. Dr. Lawrence is a graduate of Amherst College (BA), the University of Kentucky (MD), and the University of Washington (MPH). He is Board Certified in General Preventive Medicine (Johns Hopkins and University of Washington). He is a member of Alpha Omega Alpha (Medical Honorary Society) and the Institute of Medicine (National Academy of Sciences). He currently serves on the Boards of Agilent Technologies, Pacific Gas and Electric Company, Raffles Medical Group of Singapore, The Rockefeller Foundation, and the RAND Health Advisory Board among others. He also serves in advisory roles to the biotechnology industry. The board also added a new provision to the company's existing Executive Severance Policy. In accordance with an advisory shareholder proposal that passed at McKesson's 2003 Annual Meeting of Stockholders, the company will now seek shareholder approval for any future severance agreements with senior executive officers that provide specified benefits in an amount exceeding 2.99 times the sum of the executive's base salary and target bonus. The new provision will not apply to extensions or renewals of agreements with senior executives entered into prior to the approval of the shareholder resolution if the existing agreement requires the company to renew or extend the agreement on the same terms. McKesson Corporation (NYSE: MCK) is a Fortune 20 healthcare services and information technology company dedicated to helping its customers deliver high-quality healthcare by reducing costs, streamlining processes and improving the quality and safety of patient care. Over the course of its 170-year history, McKesson has built strong relationships with its customers by providing pharmaceutical and medical-surgical supply management across the spectrum of care; healthcare information technology for hospitals, homecare and payors; hospital and retail pharmacy automation; and services for manufacturers and payors designed to improve outcomes for patients. For more information, visit us at www.mckesson.com. Except for historical
information contained in this press release, matters
discussed may constitute "forward-looking statements", within the
meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities
Exchange Act of 1934, that involve risks and uncertainties that could
cause
actual results to differ materially from those projected, anticipated
or
implied. These statements may be identified by their use of
forward-looking
terminology such as "believes", "expects", "anticipates", "may",
"will",
"should", "seeks", "approximates", "intends", "plans", "estimates" or
the
negative of these words or other comparable terminology. The most
significant
of these risks and uncertainties are described in the company's Form
10-K,
Form 10-Q and Form 8-K reports filed with the Securities and Exchange
Commission
and include, but are not limited to: the resolution or outcome of
pending
shareholder litigation regarding the 1999 restatement of our historical
financial statements; the changing U.S. healthcare environment,
including
the impact of recently approved and potential future mandated benefits;
changes in private and governmental reimbursement or in the delivery
systems
for healthcare products and services; governmental efforts to regulate
the pharmaceutical supply chain; changes in pharmaceutical and
medical-surgical
manufacturers' pricing, selling, inventory, distribution or supply
policies
or practices; changes in customer mix; substantial defaults in payment
or a material reduction in purchases by large customers; challenges in
integrating and implementing the company's software products, or the
slowing
or deferral of demand for these products; the company's ability to
successfully
identify, consummate and integrate strategic acquisitions; changes in
generally
accepted accounting principles (GAAP); and general economic conditions.
The reader should not place undue reliance on forward-looking
statements,
which speak only as of the date they are made. The company assumes no
obligation
to update or revise any such statements, whether as a result of new
information
or otherwise.
Contacts McKesson Corporation Larry Kurtz, 415-983-8418
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