Seattle PI – Walgreen has named Jana Partners founder Barry Rosenstein to its board, and the activist investor will get a say in choosing at least one additional director for the nation’s largest drugstore chain.
Walgreen Co. is feeling shareholder pressure after lowering its forecast for the earnings it expects after combining with health and beauty retailer Alliance Boots, which runs the United Kingdom’s largest drugstore chain. The Deerfield, Illinois, company’s shares have largely plunged since it dropped that forecast last month and said it will no longer consider an overseas reorganization that would have trimmed its U.S. taxes.
