- Move supports company’s multi-year
strategic growth initiative.
- Company to move most San Francisco Bay
Area jobs to Las Colinas and other McKesson hub locations by
January 1, 2021.
- New Las Colinas headquarters offers
employees a world-class workspace with numerous collaboration and
wellness features.
McKesson Corporation (NYSE:MCK) today announced the relocation
of its corporate headquarters from San Francisco, California to Las
Colinas, Texas, effective April 1, 2019, expanding upon its
presence in the Dallas area.
“We are excited to strengthen our presence in Texas and make Las
Colinas our official global headquarters,” said John H. Hammergren,
chairman and chief executive officer, McKesson Corporation.
“Governor Abbott and the Irving/Las Colinas community have provided
tremendous support since we opened our Las Colinas campus last
April. Making this move will improve efficiency, collaboration and
cost-competitiveness, while providing an exceptional work
environment for our employees.”
McKesson’s Las Colinas campus is already a key hub for the
company. Employees at the North Texas location perform vital
functions for the company in areas such as operations, information
technology, finance and accounting, marketing and sales,
administration and support, purchasing, and project management.
"I’m delighted McKesson, a Fortune 6 company, is making Texas
the home of its new global headquarters,” said Texas Governor Greg
Abbott. "The company has a long record of success in our state.
McKesson’s expansion is an example of the kind of high-quality
companies and jobs Texas has attracted as a result of our focus on
economic growth, and I am proud to welcome them to the Lone Star
State.”
McKesson’s Las Colinas campus has achieved a LEED Gold
certification, recognizing its resource efficiency, as well as a
WELL Building Silver certification, the first building standard
focused solely on human health and wellness. Elements of the
building are designed to support employee productivity and
wellness, empowering employees to work the way they like while
fostering team collaboration amidst an array of amenities and
enhanced technology capabilities.
“We are proud that McKesson has decided to make Irving/Las
Colinas its official, corporate home,” said Irving Mayor Rick
Stopfer. “Irving is an amazing city with talented, hard-working
people and wonderful amenities. We’re delighted to have yet another
Fortune 500 company make Irving their global headquarters.”
Following the relocation of its headquarters, McKesson will
continue to have a strong presence in California, employing more
than 1,400 people, primarily in distribution operations and sales.
The company opened a new distribution center for its
medical-surgical division in Roseville, CA earlier this year.
McKesson Ventures will remain in San Francisco, along with a
technology development team for McKesson’s US Oncology Network.
Move Supports Multi-Year Strategic Growth Initiative
As previously announced on April 25, 2018, McKesson launched a
multi-year strategic growth initiative, inclusive of plans to
optimize the company’s operating and cost structures. The company
expects these initiatives and actions will generate approximately
$300 million to $400 million in annual pre-tax gross savings that
will be substantially realized by the end of Fiscal 2021.
“As part of our strategic growth initiative, we’ve developed a
hub location strategy, co-locating people based on the type of work
they do to improve teamwork, advance innovation and increase
efficiency,” said Brian Tyler, president and chief operating
officer, McKesson Corporation. “Bringing employee groups together
in key locations will make McKesson a more streamlined and agile
company, complementing our investments and improving operating
profit growth for the organization.”
“We are taking great effort, care and consideration to make this
transition as seamless as possible for our associates who will be
affected by this transition,” Tyler continued. “It is important to
us that every employee is treated with dignity and respect,
consistent with McKesson’s ICARE shared principles. San
Francisco-based employees are being offered the opportunity to
relocate to Las Colinas and other hub locations. We look forward to
bringing even more of our team together in our new, world-class
global headquarters.”
Risk Factors
Except for historical information contained in this press
release, matters discussed may constitute “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, as
amended, that involve risks and uncertainties that could cause
actual results to differ materially from those projected,
anticipated or implied. These statements may be identified by their
use of forward-looking terminology such as “believes”, “expects”,
“anticipates”, “may”, “will”, “should”, “seeks”, “approximately”,
“intends”, “plans”, “estimates” or the negative of these words or
other comparable terminology. The discussion of financial trends,
strategy, plans or intentions may also include forward-looking
statements. It is not possible to predict or identify all such
risks and uncertainties; however, the most significant of these
risks and uncertainties are described in the company’s Form 10-K,
Form 10-Q and Form 8-K reports filed with the Securities and
Exchange Commission and include, but are not limited to: changes in
the U.S. healthcare industry and regulatory environment; managing
foreign expansion, including the related operating, economic,
political and regulatory risks; changes in the Canadian healthcare
industry and regulatory environment; exposure to European economic
conditions, including recent austerity measures taken by certain
European governments; changes in the European regulatory
environment with respect to privacy and data protection
regulations; fluctuations in foreign currency exchange rates; the
company’s ability to successfully identify, consummate, finance and
integrate acquisitions; the performance of the company’s investment
in Change Healthcare; the company’s ability to manage and complete
divestitures; material adverse resolution of pending legal
proceedings; competition and industry consolidation; substantial
defaults in payment or a material reduction in purchases by, or the
loss of, a large customer or group purchasing organization; the
loss of government contracts as a result of compliance or funding
challenges; public health issues in the U.S. or abroad;
cyberattack, natural disaster, or malfunction of sophisticated
internal computer systems to perform as designed; the adequacy of
insurance to cover property loss or liability claims; the company’s
proprietary products and services may not be adequately protected,
and its products and solutions may be found to infringe on the
rights of others; system errors or failure of our technology
products or services to conform to specifications; disaster or
other event causing interruption of customer access to data
residing in our service centers; changes in circumstances that
could impair our goodwill or intangible assets; new or revised tax
legislation or challenges to our tax positions; general economic
conditions, including changes in the financial markets that may
affect the availability and cost of credit to the company, its
customers or suppliers; changes in accounting principles generally
accepted in the United States of America; withdrawal from
participation in multiemployer pension plans or if such plans are
reported to have underfunded liabilities; inability to realize the
expected benefits from the company’s restructuring and business
process initiatives; difficulties with outsourcing and similar
third party relationships; risks associated with the company’s
retail expansion; and the company’s inability to keep existing
retail store locations or open new retail locations in desirable
places. The reader 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, the company
undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof, or to reflect the occurrence
of unanticipated events.
Shareholders are encouraged to review the company’s filings with
the Securities and Exchange Commission.
About McKesson Corporation
McKesson Corporation, currently ranked 6th on the FORTUNE 500,
is a global leader in healthcare supply chain management solutions,
retail pharmacy, community oncology and specialty care, and
healthcare information technology. McKesson partners with
pharmaceutical manufacturers, providers, pharmacies, governments
and other organizations in healthcare to help provide the right
medicines, medical products and healthcare services to the right
patients at the right time, safely and cost-effectively. United by
our ICARE shared principles, our employees work every day to
innovate and deliver opportunities that make our customers and
partners more successful — all for the better health of patients.
McKesson has been named the “Most Admired Company” in the
healthcare wholesaler category by FORTUNE, a “Best Place to Work”
by the Human Rights Campaign Foundation, and a
top military-friendly company by Military Friendly. For
more information, visit www.mckesson.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181130005526/en/
Craig Mercer, 415-983-8391 (Investors and Financial
Media)Craig.Mercer@McKesson.comKristin Chasen, 415-983-8974
(General and Business Media)Kristin.Chasen@McKesson.com
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