The former CEO of McDonald’s Corp. (NYSE: MCD), James Skinner, has been named the new non-executive chairman of the board of Walgreen Co. (NYSE: WAG). Skinner replaces Al McNally who has been the non-executive chairman since 2009 and who will remain on the board of directors. Skinner has been a member of Walgreen’s board since 2005.
Walgreen’s said that Skinner’s appointment is “consistent with its board of directors succession and rotational planning process.” Well, maybe. Walgreen’s troubles are no secret: the loss of its contract with Express Scripts Holding Co. (NASDAQ: ESRX) has hit the company’s top and bottom lines hard; and the recent $6.7 billion acquisition of Alliance Boots was not widely viewed as the best move the company could make to improve its sales and profits.
Walgreen’s shares are down fractionally shortly after the market opened this morning, at $29.92 in a 52-week range of $28.53-$42.89.
Paul Ausick
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.