Walgreens CEO to retire after Alliance Boots merger
Walgreens president and chief executive Greg Wasson has announced that he is to retire shortly after the completion of the full merger between the US pharmacy giant and Alliance Boots.
Alliance Boots executive chairman Stefano Pessina will become acting chief executive of the newly merged business while the board seeks a successor. In addition, Walgreens chairman James Skinner will become executive chairman of Walgreens Boots Alliance while William Foote will serve as the lead independent director of the new board.
Having joined Walgreens in 1980 as a pharmacy intern while still at Purdue University’s School of Pharmacy, Wasson 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.
In 2010, he led the acquisition of Duane Reade and, in 2012, identified the opportunity to begin the process of the strategic partnership with Alliance Boots.
Never Miss a Retail Update!Wasson said: “When I became CEO six years ago, I had three goals – to transform the front end of Walgreens drugstores, to advance the role that community pharmacy plays in health care and to find the right partner to take Walgreens global. “With the creation of Walgreens Boots Alliance, it is now time for new leadership to move that vision forward building on the global platform we have created, executing on the company’s many opportunities and creating long-term sustainable value for our customers and shareholders.
“I could not be more proud of our company or more grateful for the opportunities I have had to work with so many incredible people since joining Walgreens over 35 years ago, and I am committed to doing my best to achieve the smoothest possible leadership transition.”
Pessina added: “The completion of the merger between Walgreens and Alliance Boots and the establishment of the first global pharmacy-led, health and wellbeing enterprise, are a fitting tribute to Greg’s exceptional leadership and legacy at Walgreens.
“Through his strategic vision, Greg has done more than transform an iconic company – he has truly helped to change an entire industry for generations to come. I look forward to working with James Skinner and all the leaders of the future enterprise when we launch the combined group.”
