Target Vice Chairman Resigns
Minneapolis, In a sudden move and with no published explanation, Target Corp. vice chairman Gerald Storch has left the company. Viewed as a possible successor to CEO Robert Ulrich, Storch has given no public reason for his departure.
In a statement released from Target at 6 pm yesterday evening, the company announced Storch’s departure, effective immediately, and wished him “the best in his future endeavors.”
Storch oversaw Target’s efforts to revitalize Mervyn’s, Target’s entry into the grocery business, its credit operations and its e-commerce operations.
Family Dollar Announces 10 Million Share Repurchase
Matthews, N.C., Family Dollar Stores announced on Tuesday it has executed an overnight share repurchase transaction for the acquisition of 10 million shares, or approximately 6%, of the company’s outstanding common stock for an initial purchase price of $19.97 per share through Bank of America.
Walgreen Co. to Buy Infertility Specialty Pharmacy
Deerfield, Ill., Walgreens Health Services, the managed-care division of Walgreen Co., has agreed to acquire N.J.-based Schraft’s A Specialty Pharmacy LLC. The family-owned pharmacy is one of the nation’s leading providers of advanced fertility medications and services. Terms of the agreement were not disclosed. The acquisition is expected to close later this year, pending regulatory approval.
“We’re excited to reach this agreement with Schraft’s and look forward to making their services accessible to Walgreens pharmacy patients,” said Ron Weinert, VP of patient services, Walgreens Health Services.