Evaluation of Walgreens Company

1. Member Board of Directors – Each Director serves for three-year terms and may be reelected. There are 21 members currently serving on the Board.

Bob did a really good job in selecting the outside talent to represent on the advisory board. Bob knew that the family owned businesses had their own challenges so he chose Barry Ready, President of Readymade Office Systems, to join the Board because of the similarities between the two businesses. Bob also brought in functional experts Dick Crandall (finance) and Jim Carter (sales and marketing). Later, Bob added Peggy Thomas to bring diversity to the board and Mark Anderson, COO of Portland Timber, because of his real estate expertise.

Because the Board of Directors only meets four times a year, the day-to-day operations are managed by a Chief Executive Officer. The CEO has appointed five Chiefs as his

Walgreens was founded in 1901 measuring 50 feet by 20 feet by Charles R. Walgreen, Sr.. Mr. Walgreen was born near Galesburg, Illinois and his family later relocated to Dixon, Illinois at town about 60 miles north of his birthplace. Mr. Walgreens’ father was a farmer who turned into a businessperson and saw a great potential of the Rock River Valley (Walgreen, n.d., p.1). At age 16, Charles Walgreen had his first experience working in a drug store. He didn’t always have pleasurable experiences but it was a job with pay. He had an accident at a shoe factory that cut off his left middle finger from the top joint. This injury also stops him from playing any sports at school. After a year and a half with the

I am a pharmacist and currently working for Walgreens Pharmacy. Walgreens is the second-largest retail pharmacy chain in the United States. We provide services ranging from prescriptions medications, health and wellness products, beauty products, and photo services. Walgreens headquarter is located in Deerfield, Illinois. As of August 31, 2016, Walgreens operate a total of 8,175 drugstores in all 50 states, the District of Columbia, Puerto Rico, and U.S. Virgin Islands.

Founded in 1901 in Illinois by Charles R. Walgreen, Sr., Walgreens was a subsidiary of Walgreens Boots Alliance. In the most recent years, Walgreen’s corporate strategy has been focused on mergers and acquisitions, the first of which occurred in 2014 when Walgreens purchased the remaining stake in Boots costing the company approximately $15.3 billion. (Walgreens, n.d.) With this acquisition Walgreens became the largest pharmacy/health/beauty combination retailer in the world, operating in all 50 states and 12 countries internationally. (Schauber, 2014)

Company has 11 board directors. It is a diversity culture while everyone have something similar which all have huge amount of experience and they all achieved a lot of successes in their career. This reflect into Whole Food success in their vision and mission. Each member has specific skills in different company operational segments such as capital, financial, human resources, social response, etc. which can make caution and wise decisions leading the company to

The Board of Directors are in charge of determining the corporation’s leadership structure on an annual basis and determine if the board will be led by an independent Chairperson or an independent Lead Director. The board has decided that Ronald Sargent, the CEO of Staples, will remain and the Chairman of the board. The Board of Directors is broken down into five committees made up of around three or four board members. Each committee has there own responsibilities and are in charge of making critical decisions that they must assure is communicated properly throughout the entire company. This leadership structure assures that the Board of Directors has a proper balance of leadership roles that allows for a system that prevents any conflict of interests that may come from having the CEO serving on the board.

The Board of the Company consists of 11 (eleven) Independent Directors and 2 (two) Inside Directors. They have expertise in the areas of business, finance, law, audit and public companies.

For proprietary reasons, Walgreens does not provide detailed information on specific topics, such as their corporate strategy, internal systems and corporate structure ((Walgreens Boots Alliance, 2015). At Walgreens Boots Alliance, Shareholders select the Board members to oversee and direct the affairs of the Company in the interests of enhancing the long-term value For Walgreens Boots Alliance. The day-to-day operations

11 members of the board of directors, 11 seats, they just need one vote to be on the board so the board is always the same.

Board of Directors are made of all different kinds of people. The average age has been increasing in the last 10 years raising from 60 to 63. Currently 38% of newly elected directors are retired, and the

Virgin Islands. Charles R. Walgreen Sr. purchased the Chicago drugstore where he had worked as a pharmacist - and that started the Walgreen chain. It is the first drug store to have a self-service shopping style in its stores, unlike traditional clerk-service style shopping. Walgreens has started with one store in 1901 and extended with around 3000 stores before it started its first e-commerce website. Going further, it is mentioned about the technologies adopted by Walgreens and how they gained competitive edge over its competitors.

Q4. Hample (1998) and Higgs (2003) discussed about importance of independent non-executive directors, they recommended board should comprise with at least 50% independent nom executive directors. Author also motivated from de andress et al. (2005), the association between firm

Board of Directors of the Bank is a unique combination of both private and Government sector experience. Currently it consists of Ten Directors. Of them five represent the sponsors and general public and four senior officials in the rank and status of joint secretary/Additional Secretary represent the Government. Managing Director is the ex-officio Director of the Board.