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Walgreens' Wasson joins AmerisourceBergen board
May 15th, 2014
VALLEY FORGE, Pa. – Walgreen Co. president and chief executive officer Greg Wasson has been elected to the board of directors of AmerisourceBergen Corp.
The pharmaceutical distributor said Thursday that the addition of Wasson expanded its board to 11 members. He hasn't been appointed to serve on any of the board's committees.
AmerisourceBergen noted that Walgreens was entitled to designate a director for the distributor's board under their strategic alliance announced in March 2013. That agreement also includes Walgreens' joint-venture partner Alliance Boots GmbH.
"We are very pleased to have Greg join the AmerisourceBergen board of directors," AmerisourceBergen chairman Richard Gozon said in a statement. "His extensive health care experience, strategic vision and commitment to working collaboratively to drive growth and shareholder value for both AmerisourceBergen and Walgreens will make Greg a tremendous asset to the board."
Wasson has served as Walgreens' president and CEO and as a director on the drug chain's board since 2009. A graduate of Purdue University's School of Pharmacy, he has served in various senior management and executive positions in his 33-year career at Walgreens, including oresident and chief operating officer from May 2007 to February 2009, executive vice president from October 2005 to May 2007, senior vice president from February 2004 to October 2005 and vice president from October 2001 to February 2004. He was also president of Walgreens Health Services from March 2002 to May 2007.
In addition, Wasson has served as a director of Alliance Boots since August 2012 and of Verizon Communications Inc. since March 2013.
"I am thrilled to have Greg join our board of directors," stated Steven Collis, president and CEO of AmerisourceBergen. "With his innovative insights, long-standing commitment to community pharmacy and demonstrated partnership philosophy, I am certain that Greg will make valuable contributions to our board."
In September, AmerisourceBergen became the primary supplier of branded drugs to Walgreens under the 10-year primary distribution pact that was part of their strategic partnership with Alliance Boots. The three-part agreement called for AmerisourceBergen first to distribute brand-name drugs that Walgreens has historically sourced from other distributors and suppliers and then, starting in calendar year 2014, to increasingly include generic drugs that the pharmacy chain has typically self-distributed.
In the second component of the deal, AmerisourceBergen is slated to access generics and related pharmaceuticals through the Walgreens and Alliance Boots joint venture, Walgreens Boots Alliance Development GmbH. The arrangement is expected to provide a range of opportunities to collaborate in the global pharmaceutical supply chain, according to the companies. The third part of the agreement enables Walgreens and Alliance Boots to buy an equity stake in AmerisourceBergen, for which they received regulatory clearance in May 2013.