McKesson (MCK) details CFO retirement, Kenny Cheung hire and pay

Rhea-AI Filing Summary

McKesson Corporation announced a planned chief financial officer transition, with longtime CFO Britt J. Vitalone retiring and Kenny K. Cheung appointed as the new Executive Vice President and Chief Financial Officer.

Vitalone will step down as CFO on May 28, 2026, remain an employee through July 1, 2026, and then serve as a non‑employee advisor under an agreement providing a $50,000 monthly advisory fee. Cheung, age 44, joins from Sysco, where he was Executive Vice President and CFO, and previously held senior finance roles at Hertz, Nielsen and General Electric.

In connection with his appointment, Cheung will receive a one‑time $3,500,000 sign‑on cash bonus, sign‑on restricted stock units with a grant date value of $6,000,000, an annual base salary of $1,050,000, a target annual bonus opportunity equal to 125% of eligible earnings, performance stock units for the fiscal years 2027–2029 with a grant date value of $3,450,000, and additional restricted stock units with a grant date value of $2,300,000.

Insights

Corporate governance and compensation analyst

Planned CFO succession with sizable but structured compensation package.

The company has disclosed an orderly CFO transition, identifying Kenny K. Cheung as successor while retaining outgoing CFO Britt J. Vitalone as a paid advisor. This staged handoff, with defined dates and responsibilities, aims to maintain continuity in financial leadership and strategic projects.

Cheung’s package combines a $3,500,000 sign‑on bonus, $6,000,000 in sign‑on RSUs, ongoing equity grants totaling $5,750,000, and a 125% target bonus on a $1,050,000 salary. These figures signal the company’s emphasis on attracting an experienced CFO while linking much of the upside to equity-based incentives.

Vitalone’s advisory agreement, paying $50,000 per month after July 2, 2026, keeps his institutional knowledge available, including support for the planned separation of the Medical Surgical Solutions segment. Future disclosures in regular filings may elaborate on how the new CFO aligns compensation and capital allocation with the stated strategy.

00009276538-K2026-03-03false00009276532026-03-032026-03-030000927653us-gaap:CommonStockMember2026-03-032026-03-030000927653mck:A1.625NotesDue2026Member2026-03-032026-03-030000927653mck:A3.125NotesDue2029Member2026-03-032026-03-03

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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): March 3, 2026

McKESSON CORPORATION

(Exact Name of Registrant as Specified in Charter)

Delaware

1-13252

94-3207296

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

6555 State Hwy 161

Irving, TX 75039

(Address of Principal Executive Offices, and Zip Code)

(972) 446-4800

Registrant’s Telephone Number, Including Area Code

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐			Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, $0.01 par value

MCK

New York Stock Exchange

1.625% Notes due 2026

MCK26

New York Stock Exchange

3.125% Notes due 2029

MCK29

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 5.02 Departure of Certain Officers; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Retirement of Principal Financial Officer

On March 3, 2026, Britt J. Vitalone, the company’s Executive Vice President and Chief Financial Officer, gave notice of his intention to retire from that role. Mr. Vitalone’s last day as our CFO will be May 28, 2026, and he will remain an employee through July 1, 2026. Mr. Vitalone thereafter will serve as a non-employee advisor to the company as described below under the heading Advisory Arrangement.

Appointment of Principal Financial Officer

On March 4, 2026, Kenny K. Cheung was appointed as the company’s Executive Vice President and Chief Financial Officer, effective as of May 29, 2026, for the term of office provided by Article IV of the company’s By-Laws.

Mr. Cheung, age 44, most recently was employed by Sysco Corporation. As Executive Vice President and Chief Financial Officer there since 2023, he was responsible for financial planning & analysis (FP&A), accounting, audit, tax and corporate finance.

Mr. Cheung was employed by The Hertz Corporation from 2018 to 2023. He served as Chief Financial Officer from 2020 to 2023, where he led the Global Finance organization, overseeing accounting, FP&A, tax, investor relations, internal audit, and treasury. During his tenure, he also played a key leadership role in guiding the company through its Chapter 11 restructuring. From 2018 to 2019, he held several senior finance leadership positions, including Senior Vice President of Global FP&A and CFO of Hertz North America.

Earlier in his career, Mr. Cheung was employed by Nielsen Holdings in operational and finance leadership positions while gaining international experience overseas for more than five years. He began his career at General Electric, where he completed the Financial Management Program, supporting the supply chain and operations divisions as well as FP&A.

Compensation of Principal Financial Officer

In connection with his appointment, Mr. Cheung will receive the following one-time sign‑on awards: a $3,500,000 sign‑on bonus, subject to prorated repayment if his employment terminates prior to the second anniversary of his hire date, except in specified circumstances, and sign‑on restricted stock units to be granted under the company’s 2022 Stock Plan (the “Stock Plan”) with a grant date value of $6,000,000.

Separately, as part of his ongoing compensation package, Mr. Cheung will receive an annual base salary of $1,050,000 and will be eligible to participate in the company’s Management Incentive Plan with a target annual bonus opportunity equal to 125% of his eligible earnings for the applicable performance period. The company will also grant Mr. Cheung equity awards under the Stock Plan consisting of (i) performance stock units for the fiscal years 2027–2029 performance period with a grant date value of $3,450,000 and (ii) restricted stock units with a grant date value of $2,300,000. The restricted stock unit awards will each vest in three equal annual installments beginning on the vesting commencement date specified in the applicable award agreement. The number of units subject to each equity award will be determined in accordance with the company’s equity grant policy.

For more information about the Company’s executive compensation program, please refer to the company's proxy statement that was filed with the Securities and Exchange Commission on June 20, 2025.

Advisory Arrangement

In connection with his retirement as CFO, the company entered into an Advisor Agreement with Mr. Vitalone, effective as of July 2, 2026. Under the Advisor Agreement, Mr. Vitalone will provide advisory services to the company as an independent contractor. As compensation for these services, the company will pay Mr. Vitalone a monthly advisory fee of $50,000. Other than the advisory fee and reimbursement of reasonable expenses, Mr. Vitalone will not be entitled to any additional compensation or employee benefits under the Advisor Agreement.

The foregoing description of the Advisor Agreement does not purport to be complete and is qualified in its entirety by reference to the Advisor Agreement filed as an exhibit to this report.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.						Description
10.1						Advisor Agreement dated March 5, 2026, between Britt J. Vitalone and McKesson Corporation*
99.1						News release issued by McKesson Corporation on March 5, 2026
104						Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the Inline XBRL document

* Certain identified information has been excluded from this exhibit because it is both not material and is the type that the Company treats as private or confidential

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 hereunto duly authorized.

Date: March 5, 2026

McKesson Corporation
			By:			/s/ Michele Lau
						Michele Lau
						Executive Vice President and Chief Legal Officer

Exhibit 99.1

McKesson Announces Planned CFO Transition

Britt Vitalone announces retirement, Kenny Cheung named as successor

IRVING, Texas — March 5, 2026 — McKesson Corporation (NYSE: MCK) today announced Britt Vitalone, Executive Vice President and Chief Financial Officer (CFO), has elected to retire after a successful and distinguished 20-year career with the company, including more than eight years as CFO. Looking ahead, Kenny Cheung will join McKesson as Executive Vice President and CFO, effective May 29, 2026.

“Britt is an exceptional partner and leader. He has been instrumental in advancing the company’s financial performance, engaging with shareholders, and instilling a culture of financial discipline,” said Brian Tyler, Chief Executive Officer, McKesson Corporation. “He has consistently emphasized aligning strategy with execution. His financial stewardship and disciplined approach to capital allocation have driven meaningful value creation and helped strengthen our financial foundation and evolve our portfolio to position McKesson for long-term success. I’m deeply grateful for his leadership and the impact it has had on the company.”

Vitalone’s care and commitment to McKesson continues. While he will retire as the CFO, he will continue his work with McKesson, thereafter, as a strategic advisor to support a smooth transition and the planned separation of McKesson’s Medical Surgical Solutions.

The Path Forward

Cheung joins McKesson from Sysco, where he served as Executive Vice President and Chief Financial Officer, overseeing global financial planning and analysis, accounting, audit, tax, and corporate finance.

The leadership transition comes as McKesson continues to execute its strategy and deliver strong performance. In its third quarter earnings announcement, the company delivered another strong quarter, reporting record revenue and adjusted operating profit, reflecting continued momentum across its oncology and multispecialty and biopharma services platforms, along with strength in the core distribution businesses.

Cautionary Statements

This press release contains 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. Forward-looking statements may be identified by their use of terminology such as “believes,” “expects,” “anticipates,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “projects,” “plans,” “estimates,” “targets,” or the negative of these words or other comparable terminology. Any discussion of leadership transitions, the company’s intent to separate its Medical Surgical Solutions segment into an independent company, other anticipated or completed transactions, financial outlook, guidance, trends, strategy, plans, assumptions, expectations, commitments, and intentions may also include forward-looking statements. Readers should not place undue reliance on forward-looking statements, which speak only as of the date they are first made. Except to the extent required by law, McKesson undertakes no obligation to update or revise any forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, or implied. Although it is not possible to predict or identify all such risks and uncertainties, we encourage investors to read the risk factors described in McKesson’s publicly available filings with the Securities and Exchange Commission and news releases.

These risk factors include, but are not limited to: we experience costly and disruptive legal disputes and settlements, including regarding our role in distributing controlled substances such as opioids; we experience losses not covered by insurance or indemnification; we are subject to frequently changing, extensive, complex, and challenging healthcare and other laws and policies; we from time

to time record significant charges from impairment to goodwill, intangibles, and other long-lived assets; we experience cybersecurity incidents that might significantly compromise our technology systems or might result in material data breaches; we experience significant problems with information systems or networks; we may be unsuccessful in achieving our strategic growth objectives; we may be unsuccessful in our efforts to implement initiatives to reduce or optimize our costs; we might be unable to successfully complete or integrate acquisitions or other strategic transactions, especially in the timeframes noted; we may not receive anticipated benefits from acquisitions or other strategic transactions; we might be adversely impacted by delays or other difficulties with divestitures; we are impacted by customer purchase reductions, contract non-renewals, payment defaults, and bankruptcies; our contracts with government entities involve funding, payment and compliance risks; we might be harmed by changes in our relationships or contracts with suppliers; our use of third-party data is subject to risks and limitations that could impede the growth of our data services business; we might be unable to successfully recruit and retain qualified employees; we might be adversely impacted by healthcare reform such as changes in pricing and reimbursement models; we might be adversely impacted by competition and industry consolidation; we are adversely impacted by changes or disruptions in product supply and have difficulties in sourcing or selling products due to a variety of causes; we are adversely impacted as a result of our distribution of generic pharmaceuticals; we are adversely impacted by changes in the economic environments in which we operate; changes affecting capital and credit markets might impede access to credit, increase borrowing costs, and disrupt banking services for us and our customers and suppliers; we might be adversely impacted by changes in tax legislation or challenges to our tax positions; we might be adversely impacted by conditions and events outside of our control, such as widespread public health issues, natural disasters, and geopolitical factors; we may be adversely affected by global climate change or by regulatory or market responses to such change; and evolving expectations and regulatory requirements related to governance and sustainability matters may have an adverse effect on our business, financial condition, and results of operations and damage our reputation.

About McKesson Corporation

McKesson Corporation is a diversified healthcare services leader dedicated to advancing health outcomes for patients everywhere. Our teams partner with biopharma companies, care providers, pharmacies, manufacturers, governments, and others to deliver insights, products and services to help make quality care more accessible and affordable. Learn more about how McKesson is impacting virtually every aspect of healthcare at McKesson.com and read Our Stories.

Contacts

Investors 
Investors@McKesson.com

Media Relations 
MediaRelations@McKesson.com

FAQ

What CFO leadership change did McKesson (MCK) announce in this 8-K filing?

McKesson announced that long-time CFO Britt J. Vitalone will retire as Chief Financial Officer on May 28, 2026, and remain an employee through July 1, 2026. Kenny K. Cheung will become Executive Vice President and CFO effective May 29, 2026, ensuring a planned leadership transition.

Who is Kenny K. Cheung, the incoming CFO of McKesson (MCK)?

Kenny K. Cheung is a seasoned finance executive who served as Executive Vice President and CFO at Sysco since 2023 and previously was CFO of The Hertz Corporation. His background includes senior roles in financial planning, accounting, tax, treasury, and international experience at Nielsen and General Electric.

What compensation will McKesson (MCK) provide to new CFO Kenny Cheung?

Kenny Cheung will receive a $3,500,000 sign-on bonus, $6,000,000 in sign-on restricted stock units, a $1,050,000 annual base salary, and a target annual bonus equal to 125% of eligible earnings. He will also receive performance stock units and additional restricted stock units totaling $5,750,000 in grant date value.

How will outgoing CFO Britt Vitalone remain involved with McKesson (MCK)?

After retiring as CFO, Britt Vitalone will serve as an independent contractor advisor under an Advisor Agreement effective July 2, 2026. He will receive a $50,000 monthly advisory fee and help support a smooth transition and the planned separation of McKesson’s Medical Surgical Solutions segment.

What equity awards is McKesson (MCK) granting to Kenny Cheung as part of his role?

Kenny Cheung will receive sign-on restricted stock units valued at $6,000,000 under the 2022 Stock Plan, performance stock units for the fiscal years 2027–2029 with a $3,450,000 grant date value, and additional restricted stock units valued at $2,300,000, vesting in three equal annual installments.

Does the McKesson (MCK) filing mention strategic context for the CFO transition?

Yes. The company notes the leadership transition occurs as it continues executing its strategy and delivering strong performance, and that Britt Vitalone will advise on the planned separation of the Medical Surgical Solutions segment, reflecting ongoing strategic initiatives alongside the finance leadership change.

Filing Exhibits & Attachments

6 documents

Press Releases

• EX-99.1 EX-99.1 13.6 KB

Agreements & Contracts

• EX-10.1 EX-10.1 52.2 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2.8 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 15.5 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 27.9 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 16.2 KB