SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 11, 1997
McKESSON CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-13252 94-3207296
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(State or other (Commission File (I.R.S. Employer
jurisdiction of Number) Identification
incorporation) Number)
McKesson Plaza
One Post Street
San Francisco, California 94104
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(Address of principal executive offices) (Zip Code)
(415) 983-8300
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(Registrant's telephone number, including area code)
Item 5. Other Events.
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On February 11, 1997, the Registrant announced that Mark A.
Pulido, currently President and Chief Operating Officer, has
been named Chief Executive Officer, effective April 1, 1997.
Alan Seelenfreund, who has been Chairman and Chief Executive
Officer since November 1989, will continue with the Registrant
as Chairman. The text of the press release regarding this
announcement is set forth in Exhibit (99) to this Current
Report on Form 8-K.
Item 7. Financial Statements, Pro Forma Financial Infomation
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and Exhibits.
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(c) Exhibits
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(99) Press Release issued by McKesson
Corporation on February 11, 1997
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
McKESSON CORPORATION
(Registrant)
Dated: February 11, 1997 BY /s/NANCY A. MILLER
Vice President and Secretary
EXHIBIT INDEX
Exhibit
No. Title
- ------- ---------------------------------------
(99) Press Release issued by McKesson Corporation on
February 11, 1997.
<PAGE>
Exhibit (99)
McKesson Corp.
One Post Street, San Francisco CA 94104-5296 Tel 415 983
8300
Contact: Janet Bley
(415) 983-9357
MARK A. PULIDO TO BECOME McKESSON CEO;
ALAN SEELENFREUND TO CONTINUE AS CHAIRMAN
SAN FRANCISCO, Tuesday, February 11, 1997 (NYSE:MCK) -
McKesson Corp. announced today that Mark A. Pulido, 44, has
been named chief executive officer, effective April 1, 1997,
the start of the company's new fiscal year. Mr. Pulido is
currently president and chief operating officer. Alan
Seelenfreund, 60, who has been McKesson's chairman and chief
executive officer since November 1989, will continue to serve
the company as chairman of its Board of Directors.
"I have looked forward to the day when I could confidently
turn over the executive direction of McKesson to a successor
who not only shares my strategic goals, but also demonstrates
the operational expertise required to continue to move the
company forward," Mr. Seelenfreund said. "Since coming on
board in May of last year, Mark Pulido has accepted this
leadership responsibility both energetically and effectively.
"My goal as chief executive officer and chairman," Mr.
Seelenfreund said, "has been to reposition McKesson as an
innovative force in the rapidly evolving health care industry.
The 1994 sale of PCS, a pharmacy benefit management company,
delivered significant value to McKesson shareholders and
provided the resources to position McKesson for future growth.
Since then, we have redeployed the PCS proceeds into both
internal investments and acquisitions to strengthen McKesson's
capabilities to address all the key points of economic
influence along the pharmaceutical value chain. In addition,
through the pending General Medical acquisition, McKesson will
add medical-surgical supplies and new markets to its health
care supply management capabilities. We have also divested
non-core assets such as Armor All, to sharpen our focus on
healthcare. As a result, McKesson is now poised to become the
world's leader in health care supply management, and I feel
that this is the appropriate time to transfer leadership to my
successor."
"Mark Pulido is a dynamic executive fully committed to our
vision with the qualities to guide our company into the next
century. He has been the driving force in the FoxMeyer and
General Medical acquisitions. In addition, he has overseen
significant improvement in McKesson's performance, as
demonstrated by record U.S. health care market share growth
during fiscal 1997."
"My confidence in the timing of this transition is further
confirmed because I believe that McKesson has the best senior
management team in the industry," said Seelenfreund. "Mark is
uniquely qualified to lead this team in realizing McKesson's
goals."
Mr. Pulido has had a 20-year career in the health care
industry. Before rejoining McKesson last May, Mr. Pulido
served as president and chief executive officer of Sandoz
Pharmaceuticals Corporation and chairman, president and chief
executive officer of Red Line Healthcare Corporation, a Sandoz
affiliate. Mr. Pulido also held executive positions in the
wholesale drug industry and earlier management positions with
McKesson Drug Co. Mr. Pulido received a master of science
degree in pharmacy administration from the University of
Minnesota College of Pharmacy and a bachelor of science degree
in pharmacy from the University of Arizona College of
Pharmacy.
Commenting on his predecessor, Mr. Pulido said, "Alan
Seelenfreund has provided the vision and strategy for McKesson
into the 21st century. He has been responsible for McKesson's
decisive commitment to health care and for focusing and
improving its business portfolio. Importantly, under his
guidance McKesson has evolved to a company with more than 25%
employee ownership, while producing outstanding returns for
all shareholders. I feel fortunate and honored to take on the
challenge of succeeding him."
In addition to being chairman of the Board of Directors, Alan
Seelenfreund will continue as chair of the Board's Executive
Committee and as a member of its Finance Committee, consulting
with Mr. Pulido regarding business and financial strategy.
McKesson is the largest health care supply management company
in North America through its U.S. health care businesses, its
Canadian subsidiary, Medis Health and Pharmaceutical Services,
and its interest in Mexico's Nadro, S.A. With its pending
acquisition of General Medical Inc., the largest multimarket
distributor of medical-surgical supplies, McKesson will extend
its leadership in health care supply management. The Company
also owns McKesson Water Products, a leading provider of pure
drinking water.
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To immediately receive an index of available releases, call 1-
800-344-6495 and press 2.
On the Internet, visit us on the World Wide Web at:
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