WSJ: Charles Walgreen propelled family firm with focus on drug stores

Charles Walgreen III, grandson of the founder of the Walgreens drugstore chain, devised a new plan for the company after taking over as chief executive in 1971, according to a new profile in The Wall Street Journal.

A man of few words, he told his management team to focus on drugstores and get rid of peripheral businesses, including restaurants, discount department stores, aspirin-making plants and a travel agency. He also simplified the stores’ product line, getting rid of parakeets, pillows and hammocks.

Read The Journal's in-depth profile by clicking here.