Inside This Issue - News
Walgreens realigns execs to facilitate global push
October 8th, 2012
DEERFIELD, Ill. – Walgreen Co. has reconfigured its management team to help it better handle its new status as a global company.
In the wake of its acquisition of 45% of Alliance Boots earlier this year, giving it a stake in the London-based retailer and pharmaceutical wholesaler that has operations in more than 25 countries, Walgreens has given executive vice president and chief financial officer Wade Miquelon the additional role of president of international, leading a new Value Creation Services and International Division.
“Wade’s extensive international experience and the central role he played in bringing our companies together gives him both the experience and the expertise to lead our efforts in working closely with Alliance Boots to create the first global pharmacy-led health and well-being enterprise as he also continues to lead our finance team as chief financial officer,” president and chief executive officer Greg Wasson says.
In addition, chief strategy officer Robert Zimmerman will head Walgreens new global mergers and acquisitions team as senior vice president of international and international chief administration officer. He will also serve on the Alliance Boots board of directors.
“As our chief strategy officer for several years, Bob has been critical in helping us to evolve our core growth strategies, which is why I’ve asked him to take on this role heavily focused on ensuring we execute with excellence on this transformative and critical transaction,” Wasson says.
Zimmerman will be replaced as chief strategy officer by Brad Fluegel, a former executive at Wellpoint Inc. and Aetna Inc.
Besides his role as chief strategy officer, Fluegel will lead the company’s project management office and corporate consulting team, and he will work with Zimmerman on venture capital efforts as well.
“Brad’s wealth of strategic experience and expertise is perfect — and will be vital — as we accelerate our strategy to advance community pharmacy, and we are excited to have him on the team,” Wasson says.
Meanwhile, Walgreens has created what it calls “global synergy” teams with Alliance Boots that the company says will help the combined entity save between $100 million and $150 million in the first year and $1 billion by 2016.
Wasson says the management changes and the creation of the synergy teams will help ensure that the Walgreens-Alliance Boots partnership is a successful one.
“These new roles will allow us to move forward aggressively, working closely together with Alliance Boots, to implement our strategic partnership and realize the extensive synergies from the acquisition as well as accelerate our core growth strategies to achieve our purpose to help people get, stay and live well,” he says. “The changes also reflect Walgreens high level of confidence in our senior management team, with a mix of internally and externally developed talent, to execute the strategic partnership with Alliance Boots and major initiatives across the company efficiently and effectively.”