The acquisition of Walgreens by a private equity firm is complete, ending the drugstore chain’s run as a publicly traded company. Walgreens said Thursday that former Staples leader Mike Motz will become its new chief executive, replacing Tim Wentworth. Walgreens had announced in March that it agreed to be acquired by Sycamore Partners in a deal valued at around $10 billion. Its shareholders approved that deal last month. Walgreens, like its rivals, has been struggling with thin prescription reimbursement, persistent theft, and rising operating costs among other challenges. Going private gives the company more flexibility to make changes to improve...
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