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Report: Walgreen CFO pushed out due to forecasting error

  • Walgreen (WAG -0.2%) pushed out former CEO Wade Miquelon and other financial execs due to a $1.1B forecasting error, according to the WSJ.
  • The group had to reduce a $8.5B projection on pharmacy unit savings by the figure last month.
  • Higher costs on generic drugs accounted for a good portion of the forecasting misfire.
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Comments (6)
  • Drew Robertson
    , contributor
    Comments (358) | Send Message
     
    Damn Excel.
    20 Aug 2014, 01:14 PM Reply Like
  • Capt Jack Daniels
    , contributor
    Comments (1463) | Send Message
     
    Next job for them will likely be in government where such errors are often rewarded not punished.
    20 Aug 2014, 01:28 PM Reply Like
  • mbn
    , contributor
    Comments (649) | Send Message
     
    Captain Jack;

     

    Touché'.
    20 Aug 2014, 03:45 PM Reply Like
  • Ronald McDonald
    , contributor
    Comments (41) | Send Message
     
    I'll bet he will be on the bread line that serves beluga caviar
    20 Aug 2014, 09:30 PM Reply Like
  • dan keskitalo
    , contributor
    Comment (1) | Send Message
     
    The price of generics is volatile, not based on production cost, just on competition. Did anyone, anywhere, forecast the spike in GEq costs?
    21 Aug 2014, 09:12 AM Reply Like
  • 6396111
    , contributor
    Comments (4) | Send Message
     
    I wonder why they really got fired .. for messing up a forecast, or was it something else in guise? We will never know, but at face value this does not make sense.
    21 Aug 2014, 10:59 AM Reply Like
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