by Bruce Japsen

Following the announcement of the retirement of Greg Wasson, 56, as president and chief executive officer of Walgreens (WAG), the future of the company is for now in the hands of Stefano Pessina, the Italian billionaire who by the end of this month becomes chief executive officer of the largest drugstore chain in the world.

Pessina becomes "acting CEO, pending a board search for a successor" after the close of the second step of Walgreen's acquisition of the European drugstore giant, Alliance Boots. Shareholders are scheduled to vote on the deal on Dec. 29 when they are expected to approve purchasing the remaining 55 percent of Alliance Boots that Walgreen doesn't already own.

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Source: http://www.forbes.com/