Walgreens Board Member Resigns After Spat Over Independence [BNN Bloomberg (Canada)]
Walgreens Boots Alliance, Inc. (WBA)
Last walgreens boots alliance, inc. earnings: 4/2 07:00 am
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Source: BNN Bloomberg
The drugstore chain's board shut him out of up to half of its total meeting time because of its view of his “relative independence,” Shulman said in a letter attached to a company filing announcing the resignation. “I find that it is impossible for me to exercise my fiduciary duties representing shareholders,” he said. Shulman was designated to become a board member by the founders of Village Practice Management Co., or VillageMD, after Walgreens bought a controlling stake in that company as part of its push into primary care. Walgreens' board determined on Oct. 27 that Shulman didn't qualify as an independent director, citing his roles as a unit holder and director at VillageMD, and executive chairman of Carecentrix. Walgreens announced plans in October to accelerate its acquisition of Carecentrix, a post-acute and home-care coordinator. Walgreens declined to comment beyond the filing. Shulman said was told to leave board meetings where “there were many discussions that they
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- 3/28/24 - Beat
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