Former Walgreens president, CEO and chairman dies

Charles R. (Cork) Walgreen III, former president, CEO, chairman of the board, and chairman emeritus of the iconic U.S.-based drug store chain Walgreens, died at on Monday, Sept. 26, at his home in Lake Forest, Ill. He was 80.



Walgreen was the grandson of Charles R. Walgreen Sr., founder of the 115-year-old pharmacy retailer that now is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance.



Walgreen started his remarkable 58-year career with Walgreens in 1952, working as a stock boy after school and on vacations. He later entered the University of Michigan in Ann Arbor, from which he earned his bachelor’s degree in pharmacy in 1958. He returned to Walgreens in his first professional capacity in 1959, as a pharmacist in a store in Chicago.



In 1963, he was named administrative assistant to the VP of operations and was elected that year to the company’s board of directors. He gradually moved up through the ranks in a series of increasingly responsible positions. In 1991, he was named president and CEO, adding chairman to his title in 1976.



Walgreen served as CEO of the drug store chain until his retirement in January 1998. He remained chairman until August 1999, then retired from the board as chairman emeritus in 2010.



When Walgreen retired as CEO in January 1998, the company had enjoyed 23 consecutive years of record sales and earnings growth under his leadership, had six stock splits and grown to more than 2,400 stores (from 561 in 1971) generating $13 billion in sales (from $817 million).