John Hammergren, McKesson's longtime chairman and CEO, will retire March 31, ending a 17-year career at the nation's largest pharmaceutical wholesaler.
Mr. Hammergren became CEO of McKesson in 2001, when the company was in crisis. Under his leadership, McKesson has nearly quadrupled revenues to $208 billion, advanced to No. 6 on the Fortune 500 and expanded into global markets.
McKesson's president and COO, Brian Tyler, will succeed Mr. Hammergren as CEO. Edward Mueller, the lead independent director on McKesson's board, will take over as an independent chairman of the board.
"It has been an honor to serve as McKesson’s CEO for nearly 20 years," said Mr. Hammergren. "We are making solid progress with our strategic growth initiative, and the company is in a strong financial position. This is the right time to turn the leadership reins over to the next generation, and no one is better equipped than Brian to lead McKesson into the future."