FINANCE

Walgreens Names CEO

BY CSA STAFF

Deerfield, Ill. Walgreen Co. has selected an insider, president and COO Gregory D. Wasson, as its new CEO. The 50-year-old Wasson was appointed by the board of directors, with an announcement made late Sunday.

Wasson will retain the position of president. His new appointment, effective Feb. 1, ends a search that began when former CEO Jeffrey Rein left in October, just days after Walgreen abandoned its effort to buy California-based rival Longs Drugs Stores Corp.

Alan G. McNally, 63, who has served as chairman and acting CEO since Oct. 2008, will remain chairman of Walgreen’s board.

Wasson joined Walgreens as a pharmacy intern in 1980 and advanced steadily through increasingly responsible executive positions over the course of his 29-year career with the company.

Wasson said in a statement that despite economic challenges, the company has “tremendous advantages,” including an “iconic brand and strong balance sheet.”

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Murray resigns from Cabela’s board

BY CSA STAFF

SIDNEY, Neb. Cabela’s announced that Stephen Murray resigned from the board of directors effective Jan. 20.

Murray joined the board of directors in December 2005. During his tenure, Murray served as a member of the compensation committee and the nominating and corporate governance committee.

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Wal-Mart to own majority stake in largest Chilean food retailer

BY CSA STAFF

BENTONVILLE, Ark. and SANTIAGO, Chile Wal-Mart Stores announced that it has successfully completed its tender offer to acquire Distribucion y Servicio D&S S.A., Chile’s largest food retailer.

As a result of the transaction, Wal-Mart will own approximately 58.2 % of the issued and outstanding shares of D&S, including shares represented as American Depository Shares in the United States. Felipe Ibanez Scott and Nicolas Ibanez Scott will collectively retain approximately 40.1% of the shares of D&S, leaving approximately 1.7% held by the public. The tender offer period commenced Dec. 24 and closed at midnight Jan. 22 local Santiago time.

According to Craig Herkert, Wal-Mart EVP and CEO of the Americas, “Partnering with D&S, with its strong brands and its position as Chile’s largest food retailer, is an important step in implementing Wal-Mart’s international strategy. We continue to focus on portfolio optimization, global leverage and winning in every market.”

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