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DEERFIELD, Ill. -- Walgreen Co. said yesterday that it had named company president Jeffrey A. Rein to the additional position of c.e.o., effective July 12, coinciding with the company's next board of directors meeting. Rein will retain his title as president, while current c.e.o. and chairman David W. Bernauer will remain as chairman. The executive moves are part of Walgreen's long-range leadership succession planning.
Bernauer will stay involved in day-to-day business operations, overseeing corporate strategy, information technology, law, and government affairs.
Trained as a pharmacist, Rein joined Walgreens as an assistant manager in 1982 and rose through the ranks to become store manager in 1984, district manager in 1990, divisional v.p., treasurer in 1996, and v.p. of marketing systems and services in 2000. He served as v.p. of marketing in 2001, before being promoted to president and c.o.o. in 2003.
According to the company, Rein's career trajectory has followed the usual path of other top Walgreen managers. "Most importantly, Jeff started in the stores," noted Bernauer in a statement. "He's had proven success building our people and our business in the Southwest, and he's done the same at the national level through 10 very productive years in several key corporate positions. There isn't a segment of our business in which Jeff hasn't been intimately involved, and he's a key player in our strategy and operations. He's providing strong, energizing leadership as president, and will continue to do so as c.e.o."
Walgreen, the nation's largest drug store chain, operates 5,193 stores in 45 states and Puerto Rico. The company also provides additional services to pharmacy patients and prescription drug and medical plans through Walgreens Health Services, its managed care division, which includes Walgreens Health Initiatives, Inc. (a pharmacy benefits manager), Walgreens Mail Service, Inc., Walgreens Home Care, Inc.; and Walgreens Specialty Pharmacy.