Former Shoppers Drug Mart president Mike Motz to lead Walgreens
Sycamore Partners has completed its acquisition of Walgreens Boots Alliance (WBA), appointing former Shoppers Drug Mart president Mike Motz as CEO of the Walgreens drugstore chain.
Walgreens will operate as a private standalone company under Motz’s leadership, while WBA’s other businesses—including The Boots Group, Shields Health Solutions, CareCentrix and VillageMD—will also run independently.
Motz was formerly CEO of Staples US Retail, another company within the Sycamore portfolio, and prior to that he served as president of Shoppers Drug Mart and as executive vice-president and chief merchandising officer at its parent company Loblaw before that.
“Today represents an exciting new chapter and turning point for Walgreens,” said Motz in a press release. “As a private organization, alongside our dedicated team members, we are renewing our focus on our core pharmacy and retail platform, our stores and our customer experience—building on the progress that’s been made.”
Motz replaces Tim Wentworth, who will continue to serve as an ongoing director.
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