09:25 AM EDT, 08/28/2025 (MT Newswires) -- Walgreens Boots Alliance ( WBA ) said Thursday that it has been acquired by Sycamore Partners, and will now operate as a private entity.

Walgreens said Mike Motz has been named chief executive, effective immediately, while John Lederer will now serve as its executive chairman.

Motz joins the company from Sycamore's Staples US Retail, where he was the CEO. He will succeed Tim Wentworth, who will continue to serve as a director.