Walgreens appoints Timothy McLevish as executive VP and CFO

Walgreens (NYSE:WAG) announced the appointment of Timothy McLevish as Walgreens' new executive VP and CFO on Aug. 4. The appointment will be effective immediately and he will report directly to President and CEO Greg Wasson.

McLevish will be charged with managing all of Walgreens' financials as the company moves forward with the proposed second step of its strategic partnership with Alliance Boots, according to a company statement.

"We are pleased to welcome Tim to lead our financial operations into the next chapter of Walgreens' ongoing transformation as we continue to accelerate our strategic growth drivers, expand globally with Alliance Boots and prepare to embark on our journey to create the first global pharmacy-led, health and wellbeing enterprise," Wasson said. "With Tim on our senior management team, Walgreens and Alliance Boots will benefit not only from his deep and rich experience in the consumer products market, but also from his experience in bringing together companies to ensure efficient, effective and profitable growth and value creation."

McLevish joins Walgreens from Kraft Foods Group (NASDAQ:KRFT), one of North America's largest consumer packaged food and beverage companies. He acted as executive VP and CFO for Kraft as well, after serving as CFO for Ingersoll-Rand, a diversified industrial company, and Mead Corporation, a forestry products company.

McLevish succeeds Wade D. Miquelon, executive VP, CFO and president of Walgreens, international. Miquelon, who joined the company in 2008, will continue to act as an advisor, assisting the company with the transition as it begins the second phase of its partnership with Alliance Boots. Miquelon leaves Walgreens in good standing and will be pursuing other opportunities outside of the company. Press Release