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Completing the Definition of Walgreen Buyback Issues,
and Considering the Example for Fair Investor Access
Having completed the requested definition of issues relevant to
investor interests in Walgreen’s stock buyback policies, the Forum has
asked the company to assume responsibility for addressing these
interests.[1] Specifically, I have
suggested that its investor relations staff prepare a report or
assemble research material that can be made available to assure fair
access of all investors to decision-making information.
The Forum will of course report Walgreen’s advice of how they plan to
respond to these information requirements. We will also continue to
invite and report the comments of Forum participants on the issues
that have been defined.[2]
In a broader context, the definition of Walgreen buyback issues has
provided a very useful case example for practical consideration of the
marketplace interests being addressed in the Forum’s “Fair
Investor Access”
program. The analysis of stock buybacks is one of the most easily
understood, and recently one of the most prominent, illustrations of
the short term and long term interests that have become a focus of
attention in the Access program. Additionally, the anticipated plan of
Walgreen’s management for responding to investor interests should
provide a similarly practical example for that broader program’s
original purpose of supporting more effective corporate management of
direct investor access in coordination with The Conference Board’s
“Task Force on Corporate/Investor Engagement.”[3]
It is therefore suggested that we make good use of the Walgreen
project to develop our conclusions in the Fair Investor Access
program.
Your questions and comments, on both programs, will be welcomed.
GL – November 17, 2014
Gary Lutin
Chairman, The Shareholder Forum
575 Madison Avenue, New York, New York 10022
Tel: 212-605-0335
Email:
gl@shareholderforum.com
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