Walgreens Announces Rotation Of Non-Executive Chairman Of The Board

Walgreens (NYSE: WAG) (NASDAQ: WAG) announced today, consistent with its board of directors succession and rotational planning process, the appointment of James A. Skinner, Walgreens board member since 2005 and recently retired McDonalds chief executive officer, as the new non-executive chairman of the board of Walgreens. Skinner will succeed Al McNally, who has served on the Walgreens board since 1999 and as non-executive chairman since 2009. McNally will continue serving on the Walgreens board.

“Al McNally’s extraordinary leadership as our board’s first lead director and first non-executive chairman of the board was instrumental and indispensable as Walgreens advanced its transformation launched in 2008 to become America’s most trusted and convenient provider of consumer goods and services, and pharmacy, health and wellness solutions. We are grateful that Walgreens will continue to benefit from Al’s leadership and vision on the board,” said Bill Foote, Walgreens board director and chairman of the nominating and governance committee. “As Walgreens moves forward with its strategy to become a U.S. and world leader in pharmacy-led health and wellbeing, Jim Skinner’s long experience on the Walgreens board, and decades of global success with McDonalds in expanding to Europe and emerging markets, make him an exceptional choice to lead our board into the future on behalf of shareholders and stakeholders.”

McNally served as the Walgreens board’s first lead director, beginning in January 2008. He subsequently served as chairman and acting CEO, and as non-executive chairman since 2009. He previously served as chief executive officer of Harris Bank from 1993 to 2002 and chairman of the board of Harris Financial Corporation from 1998 to 2006.

“Al’s leadership on Walgreens board has helped to move this company and our iconic brand through an historic transformation and into a new century of service, success and growth potential,” Walgreens President and CEO Greg Wasson said. “I have truly benefited and appreciated his sound counsel and advice during my three-and-a-half years as CEO. The value of his service to our board is – and I know will continue to be – immeasurable.”

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