McKesson HBOC sacks executives

July 7, 1999

Accounting improprieties at the HBOC unit of McKesson HBOC has led to the resignations and firing of several key executives. In addition to resignations by president and CEO Mark Pulido and executive vice president and CFO Richard Hawkins, chairman of

Accounting improprieties at the HBOC unit of McKesson HBOC has led to the resignations and firing of several key executives. In addition to resignations by president and CEO Mark Pulido and executive vice president and CFO Richard Hawkins, chairman of the board Charles McCall was dismissed by the company.

The company also announced that four of its Information Technology Business (formerly HBOC) unit executives had been dismissed immediately for cause: president and CEO Albert Bergonzi, CFO and controller David Held, senior vice president and general counsel Jay Lupine, and senior vice president and head of enterprise sales Michael Smeraski. In its first move toward rebuilding the ITB management team, the company named Graham King president of the unit.

McKesson HBOC is continuing its internal audit of the ITB unit’s accounts, and intends to publish restated financial information as soon as possible. Although it does not expect to be able to file its 10-K with the Securities and Exchange Commission by the June 30 deadline, the San Francisco-based firm hopes to do so shortly thereafter.