well friend whether or now AB will run WAG is yet to be seen.
However, losing a captain like Kermit usually is indicative that a transition has or will take place.
Yes, Wasson will receive a golden parachute.
So lets assume the inversion/the other half of AB is purchased, what happens?
Dont expect much for a year or so as consultants will be brought in to determine how to save money.
The stores and corp are already cut deeply so this will be a slow process. The focus will be on accounting and tax savings, ie. transfer models, etc.
The new company will also be swiss based making NEW key leadership positions in switzerland. Its more than likely that Kermit was offered a position there but instead took a healthy severance package instead and wants to move to california. He is wealthy so no worries there.
The new company may have more generals from Europe and therefore the US guys will report to them. There may be redundancy and there may not be so dont expect as many cuts in labor.
Wasson will happily lose his job and Pessian will appoint his right hand guy to run this business.
I agree with Robb in that they will load the company with debt and buy back shares, basically do what ever it takes to increase return for shareholders (pessina is largest share holder)!.
I am not sure if anyone understands reimbursement cuts and potenitally losing RX business. WAG needs this and if I was Caremark I would pounce every government program about supporting CVS over WAG.
If business is lost then yes, expect steeeeeeeep job cuts to an already skeleton crew.
