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News Summary: McKesson CEO's record $159M pension

The Associated Press

BIG BUCKS: Drug distribution company McKesson's CEO and Chairman, John Hammergren, was entitled to a $159 million lump-sum payment for his pension, had he voluntarily left the company on March 31.

RECORD PAYOUT: The value of the 54-year-old's pension is more than double that of the next largest — $74 million for Rupert Murdoch, chairman and CEO of News Corp. — according to GMI Ratings, which tracks executive pay.

PRICEY PREDECENT: Hammergren's pension was shaped by an employment agreement put in place more than 14 years ago and modeled on his predecessor's contract, as well as outstanding company performance.