Walgreens names Mike Motz as CEO, goes private under Sycamore Partners

Reuters

08/28

Aug 28 (Reuters) - Walgreens on Thursday named retail veteran Mike Motz as chief executive after the U.S. pharmacy chain was taken private by Sycamore Partners, marking a fresh chapter for the company that has been struggling to keep pace with rivals.

The management shake-up follows the completion of Sycamore's acquisition of Walgreens Boots Alliance for roughly $10 billion.

Motz, who was previously CEO of Staples' U.S. retail business, succeeds Tim Wentworth and will steer the pharmacy operator as it shifts its focus back to core retail and pharmacy operations, Walgreens said.

(Reporting by Mrinalika Roy in Bengaluru; Editing by Shilpi Majumdar)

((mrinalika.roy@thomsonreuters.com;))

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