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Walmart exceeds $1 billion in philanthropic giving

BY Katherine Boccaccio

Bentonville, Ark. — For the first time in the retailer’s history, Wal-Mart Stores Inc. said that, through Walmart and the Walmart Foundation, it has given more than $1 billion in cash and in-kind contributions.

The Monday announcement makes Walmart the first U.S. retailer to achieve the $1 billion in giving mark, up from $872.7 million last year. The growth in global giving was largely due to increased in-kind donations in the U.S. to local food banks and families impacted by disasters.

"At Walmart we believe in taking care of our neighbors and our communities," said Leslie Dach, EVP corporate affairs, Walmart. “One way we can do that is through our giving, and we’ve tried to step up in a big way."

The company’s focus has been on hunger relief, job training and support of local schools.

In addition to the more than $1 billion from Walmart and the Walmart Foundation, Walmart and Sam’s Club customers and associates around the world raised $156.3 million for local organizations such as the Salvation Army and Children’s Miracle Network Hospitals.

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Former Office Depot COO charged with insider trading

BY Katherine Boccaccio

New York — A Monday report by Forbes said that former Office Depot COO Mark Begelman has been charged with profiting off confidential information.

The SEC leveed insider trading charges against Begelman for allegedly using confidential information for his own gain, concerning the upcoming acquisition of Bluegreen Corp. by BFC Financial Corp.

According to the report, Begelman learned of the acquisition through his membership in the World Presidents’ Organization, a group of current or former executives at major companies. He then is reported to have parlayed the information into over $15,000 in illicit trading gains when the acquisition was announced.

Begelman had agreed to settle the charges, without admitting any wrongdoing, by disgorging the gains and paying a civil penalty in the amount of his gains.

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NACDS, foundation announce new board members

BY CSA STAFF

PALM BEACH, Fla. — During the National Association of Chain Drug Stores Annual Meeting today, the association elected the new officers, two new executive committee members and four new board of directors members for the coming year. The NACDS Foundation also announced the addition of five new members.

Robert Narveson, president and CEO of Thrifty White Pharmacy, was elected as the new NACDS chairman of the board of directors, succeeding Gregory Wasson, president and CEO of Walgreens.

In addition, John Standley — chairman, president and chief executive officer of Rite Aid — was elected vice chairman, and Juan Ortiz, CEO of Navarro Discount Pharmacies, was elected treasurer.

“We are pleased to welcome Bob Narveson as NACDS chairman of the board of directors,” said NACDS president and CEO Steve Anderson. “Serving as a board officer and chairman of the NACDS Political Action Committee, Bob has displayed an incredible commitment to community pharmacy and NACDS. We look forward to working with him in his new role as chairman of the board in the coming year.”

In addition to the election of the new officers for one-year terms, the NACDS board elected John Agwunobi — SVP and president of health and wellness at Wal-Mart — and Juan Ortiz as new executive committee members.

Four new board of directors members were also elected: Randy Edeker, chairman and CEO of Hy-Vee; Dijuana Lewis, SVP healthcare solutions for the health-and-wellness division at Wal-Mart; Ken Martindale, CEO of Rite Aid; and Martin Otto, chief merchant and CFO of H-E-B.

These four new board members will join the other 22 members of the NACDS board of directors to develop NACDS’ policies and priorities.

Meanwhile, the National Association of Chain Drug Stores Foundation announced the election of five new members to its board of directors. Victor Curtis, SVP pharmacy of Costco Wholesale; Jon Giacomin, president of U.S. pharmaceutical distribution for the pharmaceutical group of Cardinal Health; John Poulin, director of professional relations of Lilly USA; Todd Tillemans, president of customer development at Unilever; and Richard Tremonte, VP sales and marketing of the U.S. generics operating unit at Sandoz will join the NACDS Foundation board of directors for 2013-2014.

“We welcome Victor Curtis, Jon Giacomin, John Poulin, Todd Tillemans and Richard Tremonte to the NACDS Foundation board,” said NACDS Foundation president Kathleen Jaeger. “The NACDS Foundation is committed to improving and advancing public health and wellness, utilizing opportunities in education, research and charitable activities. Our board is representative of leaders from all segments of community pharmacy including retailers, pharmaceutical companies and consumer product businesses, and we look forward to working with them in the coming year to further implement the foundation’s vision and mission.”

NACDS president and CEO Steve Anderson was elected to serve as chairman of the NACDS Foundation board of directors; Kathleen Jaeger will serve as president; David Fitzsimmons, NACDS SVP finance and administration, will serve as treasurer; and Nicki Robins, NACDS assistant general counsel, will serve as secretary. All officers will serve a one-year term.

The following is a complete list of the NACDS Foundation board of directors for 2013-2014:

Steven Anderson, NACDS

Robert Belknap Jr., Boehringer Ingelheim Pharmaceuticals

Eileen Howard Boone, CVS Caremark

Anthony Civello, Kerr Drug

Teri Coward, Teva Pharmaceuticals

Victor Curtis, Costco Wholesale dba Costco Pharmacies

Jack Fragie, McKesson

Debbie Garza, Walgreens

Jon Giacomin, Cardinal Health

William Graham, Beiersdorf

Mark Griffin, Lewis Drugs

Susan Henderson, Rite Aid

Joseph Kucharski, GlaxoSmithKline

Louis Martire, Energizer Holdings

David Moules, Pfizer, Worldwide Pharmaceuticals

Robert Potter, Mylan Pharmaceuticals

John Poulin, Lilly USA

Bryan Stuke, Procter & Gamble

Todd Tillemans, Unilever

Richard Tremonte, Sandoz

James Van Lieshout, Apotex

Diane Wallace, Coca-Cola Refreshments

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