McKesson names new independent director

SAN FRANCISCO — McKesson on Wednesday announced that its board of directors has elected Anthony Coles as a new independent director, effective April 29, 2014. In connection with Coles’ election, the size of the board of directors was increased from nine to 10 members, nine of whom are independent.

“With over 20 years of experience in the biopharmaceuticals and pharmaceutical industries, including several public company leadership positions, Tony will provide unique perspectives that will further diversify the expertise of our board,” said John Hammergren, chairman and CEO McKesson.  “We are committed to maintaining the best possible leadership team to continue guiding our strong financial performance. The addition of Tony to our board represents a continuation of initiatives already under way to address shareholder feedback and maintain industry-leading governance practices.”

The board has appointed Coles as a member of its compensation and finance committees. Coles’ term as a director will expire at the company’s 2014 Annual Meeting of Stockholders unless he is renominated as a director, and elected by stockholders at the annual meeting in accordance with McKesson’s majority voting standard.

Coles, 53, was president, CEO and chairman of the board of Onyx Pharmaceuticals, a biopharmaceutical company, from 2012 until 2013, having served as its president and CEO, and a member of its board of directors, from 2008 until 2012. From 2005 to 2008, Coles served as an executive and a director of NPS Pharmaceuticals, a public biopharmaceutical company. Coles began his tenure at NPS as president and COO and ended his tenure there as president and CEO. Prior to 2005, Coles served in various leadership positions in the biopharmaceutical and pharmaceutical industries, including at Merck, Bristol-Myers Squibb Company and Vertex Pharmaceuticals.

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