New: A daily newsletter defining what matters in business and markets

Stories

McKesson CEO John Hammergren is retiring

John Hammergren will step down next March after 20 years as the CEO of McKesson, a major drug and medical supply distributor. McKesson’s current president, Brian Tyler, will take over as CEO.

Why it matters: McKesson is one of the largest companies on the planet, with more than $200 billion of annual revenue. Hammergren, who oversaw the company as it settled with federal officials over allegedly failing to report suspicious orders of potent drugs including opioids, will leave as one of health care’s wealthiest executives. He earned more than $650 million since 2010.

More stories loading.