Walgreen CEO Search on Track
Deerfield, Ill. Walgreen Co. said Wednesday that it could choose its full-time CEO by early February.
Chairman and acting CEO Alan McNally said Walgreen has retained executive search firm Russell Reynolds Associates to help find a replacement for former CEO Jeffrey Rein. McNally said it generally takes three or four months to find a new chief executive, which implies the company could complete its search by early February.
He said Walgreen is considering both internal and external candidates and is not favoring one over the other.
Rein resigned from Walgreen on Oct. 10, shortly after Walgreen ended its attempt to buy Longs Drugs Stores. He led the company for about two and a half years.
McNally’s comments came at Walgreen’s annual shareholders meeting.
In related news, Walgreens plans to reduce about 1,000 corporate staff and field-management positions in 2009. The job cuts are a part of its effort to reduce capital spending by $1 billion over the next three years.
Walgreens is also targeting an additional $1 billion in annual cost reductions by 2011, it said. The pharmacy chain plans to reduce 9% of existing positions through voluntary retirement packages or outright job cuts through August, according to details released earlier this month.
Gander Mountain Names Execs
St. Paul, Minn. Gander Mountain Co. announced Monday it has named Michael Owens executive VP and COO, and Steven Uline senior VP, marketing.
Owens is a 27-year veteran of Anheuser-Busch, where he led efforts to expand the company’s product offerings. He most recently served as Anheuser-Busch’s VP, business operations.
Uline worked for Anheuser-Busch for 24 years, most recently as the company’s VP, geographic marketing, field media and special-event marketing.
Both Owens’ and Uline’s responsibilities begin immediately.
Gander Mountain also promoted Eric Jacobsen to executive VP, general counsel and secretary, and Casey Ramm to senior VP, merchandising.
Save Mart Names President
Modesto, Calif. Save Mart Supermarkets announced that it has promoted its COO to serve as president of the company.
Steve Junqueiro replaces Bob Spengler, who retired from Save Mart last January. Save Mart operated without a president last year.
Junqueiro was appointed executive VP in 2007 and COO in 2008. His duties include leading Save Mart’s administrative, merchandising, marketing and distribution operations.