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Walgreens Names Alan G. McNally Lead Director
DEERFIELD, Ill.-(Business Wire)-January 31, 2008 - Walgreens (NYSE:WAG)(NASDAQ:WAG) today named current board of directors member Alan G. McNally to the position of lead director. McNally has served on Walgreens board since 1999.
McNally was CEO of Harris Bank from 1993 to 2002 and chairman of the board of Harris Financial Corporation from 1998 to 2006. He is currently retired from those positions but continues to serve both organizations as a special advisor.
"Designating a lead director is becoming a standard good governance practice, making it the right time for us to take this action," said Walgreens Chairman and CEO Jeffrey A. Rein. "Alan's broad expertise, energy and enthusiasm make him well-suited for this new role."
McNally joined the Bank of Montreal Group of Companies (BMO Financial Group) in 1975 and played a leading role in the Harris/Bank of Montreal merger in 1984. He has served as chairman of the board of MasterCard International Incorporated in New York and also was the Federal Reserve Bank of Chicago's representative to, and vice president of, the Federal Advisory Council to the Board of Governors of the Federal Reserve in Washington.
Since his retirement as Harris Bank's chief executive, McNally has continued to serve as a director or advisor of public and private companies and not-for-profit organizations.
Walgreens is the nation's largest drugstore chain with fiscal 2007 sales of $53.8 billion. The company operates 6,148 stores in 49 states and Puerto Rico. Walgreens is expanding its patient-first health care services beyond traditional pharmacy through Walgreens Health Services, its managed care division, and Take Care Health Systems, a wholly owned subsidiary that manages more than 135 convenient care clinics at drugstores. Walgreens Health Services assists pharmacy patients and prescription drug and medical plans through Walgreens Health Initiatives Inc. (a pharmacy benefit manager), Walgreens Mail Service Inc., Walgreens Home Care Inc. and Walgreens Specialty Pharmacy LLC. More information about Walgreens is available at Walgreens.com.
