WALGWS Telegraph owner, Charles Jacobs, has resigned.
The Walgills Board of Directors met at 7 p.m. today and voted unanimously to accept Jacobs’ resignation effective immediately.
Jacobs had been CEO of the Walgills, Inc. since December of 2017.
He was also Walgils President and Chief Operating Officer.
The board members unanimously decided that Jacobs had demonstrated that he is not able to effectively lead the company.
Jacobs said in a statement that he accepted the decision and will continue to work to strengthen the company and its shareholders.
He also said he would be stepping down from his role as CEO effective immediately, effective immediately with immediate effect.
Jacobs said in the statement, “It is important to me that we focus on the people and not the business.
I will miss my team, and I will work to support them in their time of need.”
Walgreens is the nation’s largest pharmacy retailer.
Jacobs, whose father was a founder of Wal-Mart, also founded the company, which has more than 300 stores.
The company is a subsidiary of Walgreen Co.
In a statement, Walgens General Counsel David L. Smith said that Jacobs “made some good decisions, and we appreciate his hard work.
However, he has a long history of conflict of interest, and has a track record of not acting in the best interests of his company.
He has proven himself unable to serve our shareholders, and Walgops stock price has fallen.”
He said that while Jacobs has worked diligently to improve the company over the years, he is no longer in a position to serve as CEO.
Smith added that Walgins leadership team is currently evaluating all of the potential candidates for CEO.