Walgreens Management Shenanigans: Paging Barry Rosenstein
Steven Davis has made a quiet exit from the Walgreens Boots Alliance board this week. Jana Partners' Barry Rosenstein isn't handling his business - as the acting activist investor involved in the company. Recall Barry was pumping Walgreens at the Sohn Conference in May.
This is the latest in a myriad of interesting exits from Walgreens since the merger with Alliance Boots.
Steve had been on the board since 2009 and wants to pursue other professional responsibilities. Not a big deal, until you realize he was just re-elected in May. Things changes rather fast for Steve. Walgreens went out of its way to explain that Steve's leaving was not the result of any operational or other conflicts.
Steve was the only African-American on the board. But something is going on within the organization. Something that many executives apparently don't like.
Tim Theriault the CIO left last month, after a six-year stint with the company. A Walgreen guy that's getting replaced with an Alliance Boots guy.
About six months ago we saw Greg Wasson, Walgreen CEO, forced out. The Italian Stefano Pessina from Alliance Boots took over for him.