Walgreen sets new CEO's pay at $1 million, plus bonus

Full story: Chicago Tribune

Walgreen Co. , the nation's largest drug store chain, agreed to pay newly appointed Chief Executive Gregory D. Wasson an annual salary of $1 million and annual bonus of up to $1.25 million, the Deerfield-based ...
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Walgreens

Sheridan, AR

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#1
Jan 27, 2009
 
They pay him $1 million plus bonus and they are forcing out over 1000 long time senior employees. Now thats a great company worth investing in, ya think??
lemming hunter

Elgin, IL

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#2
Jan 27, 2009
 
Yes, I will as a matter of fact. In fact, I had already and have enjoyed some fabulous returns. Out now though. Will strike again on the uptick!
The Sybil of Florida

Gulf Breeze, FL

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#3
Jan 27, 2009
 

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Yes, I have and will continue investing with Walgreens. Walgreens is rewiring for growth and those positions were trimmed as waste.
Walgreens wrote:
They pay him $1 million plus bonus and they are forcing out over 1000 long time senior employees. Now thats a great company worth investing in, ya think??
Maggie

Bolingbrook, IL

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#4
Jan 27, 2009
 
The Sybil of Florida wrote:
Yes, I have and will continue investing with Walgreens. Walgreens is rewiring for growth and those positions were trimmed as waste.
<quoted text>
Maybe. And maybe not, as the voluntary option played out across the board.

I think the timing of this pay package might require a little extra PR, and I look forward to seeing it.
Anonymous

AOL

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#5
Jan 27, 2009
 
This is unbelievable in this tense economic time that Walgreens is paying the new CEO such an inflated salary especially since annoucing earlier that there were to be lay offs and buy outs in the field and corporate management sectors. Right now my brother in law who works for Walgreens construction is unemployed due to their cutting back on the building end of the company. Scary times we are in, and they are paying the head honcho this unreal amount for a salary? Go figure.
Algore

Butler, PA

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#6
Jan 28, 2009
 

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It's George Bush's fault
just me

Wheeling, IL

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#7
Jan 28, 2009
 
What the article doesn't mention is the fact that Wasson is maintaining his responsibilities as President and COO as well as taking on the role of CEO. This is probably saving money vs. having to pay two seperate salaries.
i was wondering

Temple, TX

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#8
Jan 28, 2009
 
Yes, and it probably is not much of an increase over what he was already making. Everything i have heard or read about Wasson makes him seem like a good and decent man and I, for one, am glad they have finally announced that he will be taking the position. Walgreens has been a good company for over 100 years and that is because we have followed the plan set forth by our founder. I did not think that the answer to the current woes was to only hire outside the company. We need more people that believe in the core beliefs that were set so many years ago to bring us through this and I believe that Mr Wasson is the person to do this.
las vegas

Carrollton, TX

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#9
Dec 20, 2009
 
he plays golf all day while workers kill themselves at 8 dollars at hour. that is capitalism for you. a total abuse, he should live on 8 dollars an hour !!!! to see what is like.....
Skuter

Crown Point, IN

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#10
Mar 21, 2010
 

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Check what they pay the CEO at CVS... 14.4 million.
Really

Mount Prospect, IL

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#11
Mar 22, 2010
 
Do people really think he plays golf all day???
anonymous

Muskegon, MI

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#12
Nov 27, 2010
 
breaking it down over 52 weeks he makes roughly $2,932.68 an hour or $117,307.00 a week...I am sorry but in an economy such as this it is beyond ridiculous to pay that much money to any person when the little people of these companys make such low saleries and have had most of their benefits and small little perks like holiday bonus's of a meeger $25.00 to $50.00 (depending on their length of employment) taken away and when you come down to it it is those little guys that work in the stores that do a lot more to get them the big bucks they use for things like executives saleries ...
WAG STL

Sioux City, IA

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#13
Nov 28, 2010
 
and they can even give me a pay raise from pst to stl seems like i have lost money since i took this stl gig whats wrong with this
PapaDon

Columbus, OH

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#14
Dec 2, 2010
 
I wonder how all these employees feel now...just reported a week or so ago that Gregg Wasson is now making $4+ million per year bonus, and even made an additional $2+ million bonus for 2010. I guess for such a great job? Walgreens was throwing money around like there was no tomorrow pre 2008, and now they mess with loyal employees by cutting hours, eliminating overtime for management, and even "downsizing", and why? So Gregg Wasson can earn a $6+ bonus? Seems fair, right???
deesnuts

Northbrook, IL

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#15
Dec 2, 2010
 
PapaDon wrote:
I wonder how all these employees feel now...just reported a week or so ago that Gregg Wasson is now making $4+ million per year bonus, and even made an additional $2+ million bonus for 2010. I guess for such a great job? Walgreens was throwing money around like there was no tomorrow pre 2008, and now they mess with loyal employees by cutting hours, eliminating overtime for management, and even "downsizing", and why? So Gregg Wasson can earn a $6+ bonus? Seems fair, right???
This is very true. It amazes me when a store loses 20-30 hours and earns the same when he gets a pay rise. Many people feel so bad about this company to the point where many want to leave when things get better
Johnny Wags

Evansville, WI

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#16
Dec 22, 2010
 

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I'm a thirty year veteran, and have seen many CEO's and Wasson came from Medical and HMO's. He's by far the worst CEO of all, but the love him. He's raped the employees from store to DC levels, by screwing us out of good medical, to raises. The DC's haven't seen a raise in two years, while HE HAS MADE MILLIONS OF DOLLARS IN PROFIT. They, meaning the Board Members to ALL Walgreen management, Pharmacists and DC Management have always got there raises and EXTREME Bone-Asses. We the People who make there money haven't received nothing but a bad taste in our mouths. Your Welcome WALGREENS for screwing us again,..at least you could offer some lube,..assholes.
rph

Chicago, IL

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#17
Dec 23, 2010
 
CEO should only get paid $200000/yr that is all he is worth no more than that> If I was in charge I would fire both Greg and Mark>>>Ass>> >holes People lives means nothing to them everything is just biz decision.
Wag employee

United States

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#18
Mar 30, 2011
 
Yes some tough cuts were made, but I dont think you get the same or close at cvs or walmart etc...still decent..if the cuts wouldnt have been made the stock would be $15-20 and could be a takeover target..talk to rph's or mgrs or emp's that have worked both places and compare..i know a mgr who left right when cvs bought eckerds, he runs a low volume store on 268 hrs, 60 are him..
lip smacker

Summerville, SC

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#19
Mar 31, 2011
 

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the big wigs in corperate deserve every penny if not more!!
frustrated

United States

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#20
Mar 31, 2011
 

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I do think the CEO should receive a high salary but all the other vps are not necessary and they need to be downsized. we work very hard on the frontlines but we should not be making an executives pay. we should however receive a raise every year for our faithfulness to walgreens especially since the cost of living has increased. this is America and often times people do not get prompted for being the best but rather the politics of whose butt you're willing to kiss. I used to think that working hard along with furthering your education will always less to success but now it seems like that time period of living the American dream is over. welcome to the new corporate America!
lip smacker wrote:
the big wigs in corperate deserve every penny if not more!!

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