Proposing Walgreen Suspension of Buybacks to Restore Credit Rating
The Forum has been asked to report a shareholder suggestion that
Walgreen suspend its announced $3 billion stock buyback program to
restore the company’s recently downgraded credit rating,
and consider resuming buybacks only when the company can do so without
another rating downgrade.
Informal discussions with a limited number of Forum participants have
encouraged presenting this suggestion to the company for comment, and
I will therefore ask them to include specific provisions for
addressing this particular subject in their plan for responding to
investor interests in Walgreen’s buyback policies.
Please let me know if you have any comments on this suggestion, or on
any other considerations relating to the buyback issues.
GL – November 20, 2014
Chairman, The Shareholder Forum
575 Madison Avenue, New York, New York 10022