Walgreens Replaces CEO and Splits Up After Sycamore Acquisition

Walgreens replaced its chief executive officer after being acquired by the private equity company Sycamore Partners on Thursday.

The business has also separated into parts that will operate as independent companies, according to a press release, Walgreens is the well-known US retail pharmacy. The other businesses are the Boots Group, Shields Health Solutions, CareCentrix, and VillageMD.

Mike Motz, former CEO of Staples US Retail, another Sycamore company, is the new CEO of Walgreens, according to a company statement. Tim Wentworth, who previously served as the CEO of Walgreens Boots Alliance Inc., which encompassed all the businesses, will be a ...