Walgreen taps Wade Miquelon as CFO from Tyson

Walgreen taps Wade Miquelon as CFO from Tyson

Walgreen taps Wade Miquelon as CFO from Tyson

Walgreen Inc. has hired Tyson Foods Inc. executive Wade D. Miquelon to serve as senior vice president and chief financial officer of the Deerfield drugstore chain, effective June 16.

As CFO at Walgreen, the 43-year-old Miquelon succeeds William Rudolphsen, 53, who Walgreen said has been named to the new post of senior vice president and chief risk officer.

Before joining Arkansas-based chicken processor Tyson in 2006, Miquelon spent 17 years with consumer-goods giant Procter & Gamble in a variety of executive posts.

As CFO, he will oversee the company's accounting, tax and treasury functions.

Rudolphsen, a 31-year Walgreen veteran who becomes the company's first chief risk officer, will continue to report to Chairman and Chief Executive Jeffrey A. Rein while overseeing the company's audit, loss-prevention, compliance and enterprise-risk management functions. He assumed the chief financial officer job in 2004.

"The CRO position is fast becoming a best practice among large companies," Rein said. "Given our size, complexity and the highly regulated industry in which we operate, separating the financial and audit functions and increasing our focus on risk identification and mitigation is a prudent move."