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3 directors including Charles 'Cork' Walgreen III will retire from Walgreen Co. board in Jan.


Associated Press
11/25/09 11:25 AM EST

DEERFIELD, ILL. — Drugstore operator Walgreen Co. said Wednesday three of its directors, including former chairman and CEO Charles "Cork" Walgreen III, will retire from its board in January.

Walgreen was the company's CEO from 1971 to 1998, and became chairman in 1976. He is currently chairman emeritus. He is the grandson of company founder Charles Walgreen.

"Cork" Walgreen has been on the board for 46 years. His retirement, along with those of directors Cordell Reed and Marilou von Ferstel, will take effect Jan. 13.

Walgreen operates 7,105 drugstores around the U.S. and Puerto Rico. Its shares slid 9 cents to $39.31 in morning trading.



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