Last Walgreen at drug company retires

DEERFIELD, Ill., Jan. 29 (UPI) -- The last family member of a national name in U.S. drug stores still working for the family business, Kevin Walgreen, is retiring, the company said.

Walgreen, 47, is retiring for personal reasons and not taking part in the company's voluntary job buyout plan, Crain's Chicago Business reported Thursday.

Earlier this month, Walgreen Co. said it would offer about 1,000 management personnel voluntary job buyouts before turning to involuntary layoffs.

Walgreen is retiring from a senior vice president of store operations position. He started with the company in 1979, stocking shelves, the company said.

His great-grandfather, Charles Walgreen. began the company in 1901.

Walgreen said Monday Gregory Wasson, the company's president and chief operating officer, would take over as its new chief executive officer.

Walgreen's father, Charles Walgreen III, remains on the company board as chairman emeritus.