The Unique (and Beneficial) Board Structure of Lil’ Drug Store Products
Lil' Drug Store Products: Balancing Family and Corporate Strategy
Lil' Drug Store Products, once a small family-run business, has evolved into a major player in the retail industry, serving 180,000 locations across North America. CEO Chris DeWolf attributes much of the company’s success to its innovative board structure, which combines the values of a family-owned business with the discipline of a corporate governance model. The board, which includes a majority of independent directors, plays a crucial role in guiding the company’s growth, talent development, and compensation strategy. By creating a space where family members and external experts work together, Lil' Drug Store continues to thrive while remaining true to its roots.