embed embed share link link comment comment
" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344">
Embed This Video close
Share This Video close
bookmark bookmark bookmark bookmark bookmark bookmark bookmark bookmark bookmark bookmark bookmark bookmark
embed test
Rate This Video embed
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...
Tags For This Video tags
rate rate tags tags related related lights lights

Walgreen CFO’s Departure Due To $1 Billion Forecasting Error

The Wall Street Journal reports that drugstore retailer Walgreen Company’s Chief Financial Officer, Wade Miquelon, and another top executive have lost their jobs, after a $1 billion forecasting error in the company’s Medicare-related business. Walgreen named Kraft Foods Group Incorporated’s former CFO, Timothy McLevish, to replace Miquelon on August 4th. Miquelon will continue as an advisor to assist the company with its strategic partnership with Alliance Boots Holding Limited. The paper said Miquelon, Walgreen’s CFO of six years, had forecast $8.5 billion in pharmacy unit earnings for the year ending August 2016 at an April board meeting–before cutting the forecast by $1.1 billion last month.