McKesson Corporation (NYSE:MCK) Q3 2019 Earnings Conference Call - Final Transcript

Jan 31, 2019 • 05:00 pm ET


McKesson Corporation (NYSE:MCK) Q3 2019 Earnings Conference Call - Final Transcript


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John H. Hammergren

the leader of McKesson. As you know, I previously announced my retirement takes effect at the end of our fiscal year. We are making solid progress with our strategic growth initiative and despite some headwinds, the company is in a strong financial position. I guess, the future is bright.

It's been my great honor and privilege to lead this company as Chairman and CEO for nearly 20 years. Together, we've created an organization that plays a unique and significant role in healthcare. No one is better equipped than Brian to lead McKesson into the future. He's a gifted leader and an innovator. The deep industry knowledge and unwavering commitment to customers success. He had a strong vision for the future of healthcare both in the U.S. and globally, as well as for how McKesson will continue to play an integral role in helping improve efficiency and effectiveness from patient care delivery.

Perhaps most important, Brian personifies our ICARE shared principles, in fact he help me create them as a member of my leadership team nearly 20 years ago. Throughout his tenure at McKesson he's always placed the enterprise first, focused on teamwork, collaboration and communication and has consistently made employee engagement a high priority. I know Brian is a right leader to take McKesson into the future.

In addition, I might add he's a great husband and a father as well as a friend and a trusted adviser of mine. With my retirement McKesson we'll be splitting the role of Chairman and CEO. Ed Mueller, our current lead independent director will become McKesson's new Independent Chairman effective April 1st and has developed a thorough understanding of McKesson over his 10 years of service and serves as a respected leader and will provide continuity for our board.

Over the balance of the fiscal year, the entire board and I will work closely with Brian and Ed to ensure a smooth transition and after April 1st, I will continue to support McKesson in an advisory capacity and I'll remain Chairman of the board of Change Healthcare. I'll be forever grateful for the many things we've accomplished together as a team here at McKesson, for the incredible friendships I've made along the way. McKesson has truly a special place with a rich history, innovation, culture and most important our people.

Every day I'm humbled by the opportunity to lead this great organization and together with our employees make a positive impact across healthcare. I might also mention that with many of you I've worked for years and I want to thank you for your support over all of these years and your friendship in some cases. You've always treated us with great respect, you've asked tough questions but fair questions, and we've attempted to be as transparent as we possibly can. So I appreciate the support. With that I'll turn the call over to Brian. Brian.

Brian Tyler

Thank you John and good afternoon everyone. I want to be the first probably as many to