8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 1, 2010

WALGREEN CO.

(Exact name of registrant as specified in its charter)

Illinois	1-604	36-1924025
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

200 Wilmot Road, Deerfield, Illinois	60015
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (847) 940-2500

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

     On October 1, 2010, the Board of Directors of Walgreen Co. (the “Company”) Board of Directors, upon the recommendation of the Nominating and Governance Committee, elected Dr. David J. Brailer to the Board effective October 1, 2010 for a term continuing to the Company’s Annual Meeting of Shareholders on January 12, 2011. Dr. Brailer, who will be subject to election by shareholders at the Annual Meeting, has not yet been assigned to any Board committees.

     Dr. Brailer has served as Chairman of Health Evolution Partners, a private equity firm focused on the healthcare industry, since 2006. Dr. Brailer served as National Coordinator for Health Information Technology within the Department of Health and Human Services of the U.S. federal government from 2004 to 2006 and as a Senior Fellow at the Health Technology Center from 2002 to 2004. Previously, Dr. Brailer served as Chairman and Chief Executive Officer and a director of CareScience, Inc., a provider of care management services and Internet-based healthcare solutions, from 1992 to 2002.

     There is no arrangement or understanding with any person pursuant to which Dr. Brailer was selected as a director, and he is not a party to any transaction requiring disclosure under Item 404(a) of Regulation S-K. Dr. Brailer’s compensation for service as a non-employee director will be consistent with that of the Company’s other non-employee directors, subject to proration to reflect the commencement date of his service on the Board. The non-employee director compensation program is described under the caption “Director Compensation” in the Company’s proxy statement for its January 13, 2010 Annual Meeting of Shareholders filed with the Securities and Exchange Commission on November 24, 2009.

Item 7.01 Regulation FD Disclosure.

     On October 6, 2010, the Company issued a press release announcing Dr. Brailer’s election. A copy of the press release is furnished as Exhibit 99.1 to this current report and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

     The following exhibit is being furnished as part of this Form 8-K:

Exhibit Number		Exhibit Title
	99.1	Press Release issued by Walgreen Co. on October 6, 2010

2

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	WALGREEN CO.
Date: October 6, 2010	By:	/s/ Dana I. Green
		Name:	Dana I. Green
		Title:	Executive Vice President, General Counsel and Corporate Secretary

3

EXHIBIT INDEX

Exhibit Number		Exhibit Title
	99.1	Press Release issued by Walgreen Co. on October 6, 2010

4

EX-99.1

Contact:	Michael Polzin
	(847) 914-2920
FOR IMMEDIATE RELEASE		http://news.walgreens.com

Walgreens Names Dr. David J. Brailer to Board of Directors

     DEERFIELD, Ill., Oct. 6, 2010 — Walgreen Co. (NYSE, NASDAQ:WAG) today announced that David J. Brailer, MD, PhD, Chairman of Health Evolution Partners, has been elected to its board of directors. Brailer, who joins the board as an independent director, becomes the board’s 11^th member.

     “David’s expertise in advancing health care technology on a national level, as well as his experience in supporting companies through investments that promote major change in the health system will provide us with valuable insight,” said Walgreens Chairman Alan G. McNally. “This will be extremely important in the years ahead as technology plays an even greater role in the delivery of quality, affordable and accessible health care.”

     Brailer has served as Chairman of Health Evolution Partners since 2006. Prior to joining Health Evolution Partners, he was appointed by the Bush Administration as the first National Health Information Technology Coordinator in 2004. In this role, Brailer was the architect of the nation’s effort to bring the health care system into the information age, leading a bi-partisan effort that moved the U.S. health care system toward transparency, quality and efficiency.

     Before his appointment, Brailer was a senior fellow at the Health Technology Center in San Francisco, a non-profit research and education organization that provides strategic information and resources to health care organizations about the future impact of technology in health care delivery. At the Center, he advised a variety of regional and national data sharing projects.

     In 1992, Brailer founded CareScience, Inc., as a spin-off from The Wharton School of Business at the University of Pennsylvania. Over the 10 years he was with the company, Brailer led CareScience through several financings, strategic partnerships, an IPO and a strategic sale. Under his leadership, CareScience established itself as an early leader in the use of the Internet to share health information and to improve the quality of care across the United States.

     Prior to 1992, Brailer was with the University of Pennsylvania School of Medicine and The Wharton School of Business. He founded the health information technology program at The Wharton School Health Management Program, taught health management and economics in the Wharton MBA program and lectured in The Wharton Executive Education program. He also was an active patient-care physician in general medicine and in immune deficiency at the University of Pennsylvania.

     Brailer received a bachelor of arts degree in political science and his MD from West Virginia University. He completed his residency in internal medicine at the University of Pennsylvania School of Medicine and earned a PhD in health economics from The Wharton School of Business.

     Walgreens President and CEO Greg Wasson said, “David will be a tremendous resource to our board and our company as we help patients and payers lower health care costs while improving quality, outcomes and transparency through our pharmacy, health and wellness solutions.”

     Walgreens (www.walgreens.com) is the nation’s largest drugstore chain with fiscal 2010 sales of $67 billion. The company operates 7,561 drugstores in all 50 states, the District of Columbia and Puerto Rico. Each day, Walgreens provides nearly 6 million customers the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice in communities across America. Walgreens scope of pharmacy services includes retail, specialty, infusion, medical facility and mail service, along with pharmacy benefit solutions and respiratory services. These services improve health outcomes and lower costs for payers including employers, managed care organizations, health systems, pharmacy benefit managers and the public sector. Walgreens Take Care Health Systems subsidiary is the largest and most comprehensive manager of worksite health centers and in-store convenient care clinics, with more than 700 locations throughout the country.

# # # # #