ISS urges vote against four McKesson directors over CEO pay

NEW YORK (Reuters) - Proxy advisory firm Institutional Shareholder Services (ISS) is urging shareholders of McKesson Corp to vote against the re-election of four directors, citing the firm's persistent problems in addressing shareholders' concerns about executive compensation.

Chief among the concerns was "the sizable and growing" lump-sum pension payment due to Chairman and CEO John Hammergren had he retired, which was worth some $159 million, ISS said.

The ISS recommendation follows criticism of the San Francisco-based healthcare technologies and drug distribution firm by CtW Investment Group. CtW Investment is part of the Change to Win labor federation, whose members include pensions funds that are McKesson shareholders.

McKesson said its governance and executive compensation structure helped drive its strong performance.

"Our board continues to listen and be responsive to shareholder input, and we have made a number of significant governance and compensation changes in direct response to input from our shareholders," McKesson said in a statement.

In a July 1 letter to McKesson shareholders, CtW said McKesson's board is "entrenched and insular" and noted a "string of multi-billion dollar compliance and internal control failures under the watch of the audit committee".

CtW Investment Group also urged McKesson shareholders to vote against the re-election of directors Jane Shaw, a 21-year veteran of the board; Alton Irby, a 14-year veteran of the compensation committee as well as Hammergren.

In its recommendation, ISS said shareholders should vote against Irby and three other members of the compensation committee - Edward Mueller, Christine Jacobs and David Lawrence - for failing to address the compensation issues.

"The fact is the CEO's lump sum pension balance represents substantial lifetime costs to shareholders and does not incentivize the CEO's retention," ISS said.

ISS did not recommend the removal of Shaw. It also did not recommend voting against Hammergren because the company has agreed to name a lead independent director.

ISS representatives did not return requests for comment Sunday evening.

The ISS recommendations were first reported by The Wall Street Journal.

McKesson's shareholders are scheduled to vote at the company's July 31 annual shareholder meeting.

(Reporting by Jessica Toonkel; Editing by Edwina Gibbs)

Source: http://news.yahoo.com/iss-urges-vote-against-four-mckesson-directors-over-053420525.html

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Sony Xperia Z successor due in Korea by end of year?

Details of Sony's expected next flagship phone emerged today, and it seems that the Sony Xperia i1 (codenamed "Honami") may arrive in at least one country by the end of the year.

Sony Korea CEO Kenji Sakai said that the Xperia Z successor is due in the country before the end of 2013, Korean site Economic Daily reported.

The phone's main draw will be its 20-megapixel camera, according to rumors, though that still places it at half the MP of Nokia's recently unveiled Lumia 1020.

The Sony Xperia i1 "Honami" will supposedly be the first of many in a new line of Sony handsets equipped with high-quality cameras.

The Xperia Z is going on sale in the U.S. starting this week, while it's been in the U.K. for some time already.

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Sony is apparently not content with the Xperia Z and the Xperia Z Ultra, the latter of which ups the screen size well into phablet territory at 6.4 inches.

Rumors of the unannounced next device popped up most recently at the end of June, when some alleged Xperia i1 photos materialized online.

The rumor at that point was the phone called "Honami" would debut on July 4, but that obviously didn't pan out.

Current speculation holds that Sony may lift the veil off the Xperia i1/Honami at its Sept. 4 press event during IFA 2013 in Berlin.

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Decision in Montana boosts GOP chances in Senate

Associated Press

Posted on July 13, 2013 at 8:03 PM

Updated yesterday at 10:03 PM

WASHINGTON (AP) ? Republicans received a boost in their attempt to win back the majority in the Senate next year when a former Democratic governor bowed out of Montana's open Senate race.

Former Montana Gov. Brian Schweitzer says he will not run for the seat of retiring Democratic Sen. Max Baucus in 2014. Republicans have not settled on a candidate in Republican-leaning state, but Schweitzer's decision could give Republicans an opening.

Republicans need to pick up six seats to recapture the Senate majority. Democrats must defend 21 seats, including seven in largely rural states that Obama lost in 2012.

Obama hopes to send more Democrats to Congress in next year's election to help pass key items on his agenda like immigration and gun control.

Source: http://www.ktvb.com/news/politics/215387321.html

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Halle Berry marries Olivier Martinez in France

Celebs

Ree Hines TODAY contributor

10 hours ago

Kevin Winter / Getty Images file

Halle Berry and Olivier Martinez.

Never say never! After swearing off matrimony six years ago, actress Halle Berry said "I do" once again on Saturday.

On Sunday, Berry's rep confirmed that she married French actor Olivier Martinez at the Chateau des Conde in Vallery, France.

Two got engaged in 2012. The marriage marks the third time down the aisle for Berry, who wed baseball player David Justice in 1993 (divorced in 1997) and married singer-songwriter Eric Benet in 2001 (divorced in 2005). This is the first marriage for Martinez.

Berry also has a child with former partner Gabriel Aubry. She's currently pregnant with her second child -- her first with Martinez.

Source: http://www.today.com/entertainment/halle-berry-marries-olivier-martinez-6C10630915

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