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Check Out Line: There’s a new guy in town (at Walgreen)

January 26, 2009

walgreenCheck out the new chief executive at Walgreen.

The drugstore chain confounded some investor expectations by staying in house and naming President Greg Wasson as its next CEO.

After looking for months at external candidates, it said Wasson will take over Feb. 1. The news was somewhat unexpected as Walgreen had hired a search firm and looked at several outside candidates. Some analysts had suggested Walgreen needed to bring in an outsider to shake things up.

Wasson, a former pharmacist with the Deerfield, Illinois-based chain, said he is planning to steer Walgreen through a recession that economists have told the company could last until the middle of 2010.

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