Walgreens CEO Announces Plans to Step Down

Walgreens CEO Gregory Wasson announced Wednesday that he will step down from his position before the new year, just as America's largest drug store chain prepares to complete a merger with the Switzerland-based Alliance Boots. The company said in a statement that Stefano Pessina, executive chairman of Alliance Boots, will serve as acting CEO, pending a board search for a successor. Walgreens Chairman James Skinner will become Walgreens Boots Alliance's executive chairman.