Walgreen Company (WAG) CEO Greg Wasson to Retire

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Walgreen Company (WAG) CEO Greg Wasson will retire soon.

walgreen-company-wagWasson will leave the position of CEO over Walgreen when the company completes its merger with Alliance Boots. Following this, Stefano Pessina, the executive chairman of Alliance Boots, will take over as the new company’s CEO, reports The Chicago Tribune.

Wasson started working at Walgreen in 1980 as a pharmacy intern. He moved up through the company over the years and became it’s CEO in 2009. He said that he has accomplished his goals with the company and that it’s time for a new leader to take over its global expansion, The Tribune notes.

“Two weeks away from a vote on a transformational merger, shareholders do not even have a clear sense of who will be running this company,” Dieter Waizenegger, executive director of CtW Investment, told Bloomberg. “Today’s announcement confirms our fears that long-term shareholders’ interests are not served by this overvalued, risky and unnecessary transaction.”

WAG shares were up 5% as of Thursday afternoon.

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Article printed from InvestorPlace Media, https://investorplace.com/2014/12/walgreen-company-wag/.

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