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.
Walgreen Inc.'s former Chief Financial Officer Wade Miquelon sued the drugstore operator on Thursday, alleging company executives defamed him in news reports that blamed him for errors in its earnings forecast. Miquelon sued Walgreen in a state court in Chicago claiming that CEO Gregory Wasson and director Stefano Pessina, the company's biggest shareholder, had made "false and disparaging" comments about him in a report by The Wall Street Journal, court documents showed. The Journal reported in August that Miquelon and another top executive lost their jobs after a $1 billion forecasting error in Walgreen's Medicare-related business.