DEERFIELD (dpa-AFX) - Drugstore chain Walgreens Co. (WAG) said Wednesday that president and chief executive officer Greg Wasson will retire shortly after the close of the second step of the Alliance Boots transaction, on which shareholders are scheduled to vote on December 29.
Following the deal close and Wasson's retirement, Walgreens Chairman James Skinner will become Walgreens Boots Alliance's executive chairman, and Stefano Pessina, executive chairman of Alliance Boots and a member of the Walgreens board of directors, will serve as its acting CEO, pending a board search for a successor.
In addition, William Foote will serve as the lead independent director of the Walgreens Boots Alliance board of directors.
Wasson joined Walgreens in 1980 as a pharmacy intern while still at Purdue University's School of Pharmacy. Over several years, he moved from managing pharmacies in Houston to become regional vice president of store operations. From there he took on various executive roles in the Walgreens Health Initiatives division, leading to his promotion to chief operating officer and ultimately to chief executive officer.
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