Who is Mike Motz?

**Walgreens has appointed retail veteran Mike Motz as its new CEO following its acquisition by Sycamore Partners.** This move is expected to steer the company back towards its core retail and pharmacy operations. Here's a detailed analysis of the situation:

1. **Background of Mike Motz**:
- Mike Motz is a seasoned retail executive with a wealth of experience in the industry.
- He previously served as the CEO of Staples' U.S. retail business, which is also part of the Sycamore Partners portfolio.
- Motz has also been the president of Shoppers Drug Mart, Canada's leading pharmacy chain.
- His experience in leading retail and pharmacy operations makes him a strong fit for Walgreens' strategic shift.
2. **Transition and Impact**:
- The acquisition by Sycamore Partners has led to a management shake-up, with Motz taking over as CEO.
- Tim Wentworth, the previous CEO, will remain as a director, indicating a smooth transition rather than a dramatic change in leadership.
- Motz's immediate focus is on revitalizing Walgreens' core pharmacy and retail platforms, emphasizing store experience and customer satisfaction.
3. **Strategic Significance**:
- The acquisition and subsequent shift in leadership mark a significant turning point for Walgreens, which has been struggling to compete with rivals.
- By going private, Walgreens gains more flexibility to focus on its core business without the scrutiny of public markets, allowing for potential strategic changes.
- Motz's appointment is seen as a positive development, promising a fresh perspective and renewed direction for the company.

In conclusion, the appointment of Mike Motz as Walgreens' CEO represents a strategic move to refocus the company on its core competencies following its privatization. His extensive experience in retail and pharmacy positions him well to lead Walgreens through this transition and capitalize on opportunities in the industry.