Retail News

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NYT: Greg Wasson to chair new tech startup incubator

Former Walgreens CEO Greg Wasson's family investment office is joining forces with Innventure, a group that aims to develop businesses around new technologies lent by big corporations, The New York Times reported last week. P&G is expected to be the company's first partner. “Innventure will identify the opportunities, create a company, nurture it, then put in a management team to where it stands on its own — and then we move on,” Wasson, the company's chairman, told The New York Times. “What I think is most interesting is that we’re looking to help leverage their powerful R&D machine with our nimble entrepreneur team to identify the opportunities that they have developed.” In return, Innventure will have a stake in any companies it creates. (The New York Times)

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NACDS names Walgreens’ Gourlay as chairman

In addition to Gourlay’s appointment, Mark Panzer, SVP pharmacy, health and wellness of Albertsons, was elected the National Association of Chain Drug Stores’ vice chairman, and Helena Foulkes, EVP of CVS Health and president of CVS Pharmacy, was elected NACDS treasurer.