Walgreen CEO Is Out as Top Shareholder Pessina Takes Over
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Walgreen Co. Chief Executive Officer Greg Wasson will retire, clearing the way for top shareholder Stefano Pessina to tighten his grip amid a merger with his European retailer Alliance Boots GmbH. The shares rose to most in more than two years.
Wasson, 56, will step down after the close of the deal, which awaits a Dec. 29 shareholder vote, the U.S. drugstore chain said yesterday in a statement. Pessina, 73, will be acting CEO while the company searches for a successor.