Walgreens (NYSE:WAG) (NASDAQ:WAG) today announced the appointment of
Timothy McLevish as Walgreens executive vice president and chief
financial officer. He will report to president and chief executive
officer Greg Wasson, effective immediately, and lead all of Walgreens
finance functions as the company prepares to move forward with the
proposed second step of its strategic partnership with Alliance Boots.
New Walgreens Chief Financial Officer Tim McLevish (Photo: Business Wire)
McLevish comes to Walgreens from Kraft Foods Group, Inc., one of North
America’s largest consumer packaged food and beverage companies, where
he most recently served as executive vice president and chief financial
officer. Prior to Kraft, he served in chief financial officer roles for
Ingersoll-Rand, the diversified industrial company, and Mead
Corporation, a forestry products company. McLevish also served in a
leadership role at Zellerbach Paper Company, where he was vice president
and general manager. He is a graduate of the University of Minnesota
with a bachelor’s degree in accounting and economics, and also earned a
master’s degree in business administration from Harvard University.
“We are pleased to welcome Tim to lead our financial operations into the
next chapter of Walgreens ongoing transformation as we continue to
accelerate our strategic growth drivers, expand globally with Alliance
Boots and prepare to embark on our journey to create the first global
pharmacy-led, health and wellbeing enterprise,” said Greg Wasson,
Walgreens president and chief executive officer. “With Tim on our senior
management team, Walgreens and Alliance Boots will benefit not only from
his deep and rich experience in the consumer products market, but also
from his experience in bringing together companies to ensure efficient,
effective and profitable growth and value creation.”
“It is a privilege to join such an admirable company, especially at this
exciting and pivotal time as Walgreens expands to become a global
enterprise,” McLevish said. “I look forward to helping Greg and the team
achieve the company’s important mission and carry out their remarkable
vision to expand health and wellbeing across America and around the
world for the benefit of customers, patients, health care partners and
shareholders.”
McLevish succeeds Wade D. Miquelon, executive vice president, chief
financial officer and president of international for Walgreens, who will
continue as an advisor to assist the company with the transition as it
considers the exercise of Step 2 of its strategic partnership with
Alliance Boots. Miquelon also will move forward to pursue several new
opportunities outside of the company.
“Wade's remarkable leadership, strategic vision and expertise played a
critical role in helping Walgreens transition and transform from a 20th
century American drugstore chain into a 21st century global
health and wellbeing enterprise, setting the stage for a new generation
of growth and value creation for all,” Wasson said. “Wade has been a
strong contributor as together we charted and pursued a bold new course
for Walgreens globally. We know Wade can’t resist a new challenge, so we
thank him and wish him the very best as he moves forward with the next
chapter of his outstanding career.”
“It’s been one of the greatest privileges and pleasures of my career to
help Greg and the team to bring this iconic American company to the
brink of becoming a fully global health and wellbeing enterprise to
serve the world,” Miquelon said. “This truly has been an incredible
journey and chance to serve. Now that we are preparing to move forward
with bringing together these two iconic brands, it’s the right time for
me to transition to new challenges and new opportunities. I know Tim
will bring tremendous experience and insight to this exceptional company
and continue to grow and develop an outstanding finance and accounting
organization.”
Miquelon joined Walgreens in June 2008 as senior vice president and
chief financial officer, and was promoted to executive vice president in
2009. In 2012, following his leadership in establishing Walgreens
strategic partnership with Alliance Boots in June of that year, Miquelon
assumed an expanded and global leadership role as executive vice
president, chief financial officer and president, international, and
joined the board of Alliance Boots. As he continued to lead Walgreens
finance functions as chief financial officer, Miquelon also served as
Wasson’s senior leader in collaborating with the Alliance Boots
management team to execute the new global strategic partnership.
Among many other achievements at Walgreens, Miquelon played a central
role in launching and advancing the Walgreens-Alliance Boots strategic
partnership. In March 2013, Miquelon also led the establishment of the
Walgreens-Alliance Boots strategic, long-term relationship with
AmerisourceBergen of Valley Forge, Penn., to streamline the distribution
of pharmaceuticals and leverage global supply chain efficiencies.
About Walgreens
As the nation's largest drugstore chain with fiscal 2013 sales of $72
billion, Walgreens (www.walgreens.com)
vision is to be the first choice in health and daily living for everyone
in America, and beyond. Each day, in communities across America, more
than 8 million customers interact with Walgreens using the most
convenient, multichannel access to consumer goods and services and
trusted, cost-effective pharmacy, health and wellness services and
advice. Walgreens scope of pharmacy services includes retail, specialty,
infusion, medical facility and mail service, along with online and
mobile services. These services improve health outcomes and lower costs
for payers including employers, managed care organizations, health
systems, pharmacy benefit managers and the public sector. The company
operates 8,215 drugstores in all 50 states, the District of Columbia,
Puerto Rico and the U.S. Virgin Islands. Walgreens digital business
includes Walgreens.com, drugstore.com, Beauty.com, SkinStore.com and
VisionDirect.com. Take Care Health Systems is a Walgreens subsidiary
that manages more than 400 in-store convenient care clinics throughout
the country.
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