NCPA announces new FSA service
NEW YORK There are a number of conclusions you can glean from the NCPA’s announcement, which runs counter to a Senate proposal to remove over-the-counter medicines as reimbursable expenses under flexible spending accounts/health savings accounts as a way to help pay for healthcare reform.
For example, Finpago helped quantify the value of that FSA customer. If the average pharmacy sells more than $60,000 per year in OTC products under an FSA plan, then industry wide, that means retail pharmacy captures some $3.3 billion in FSA-related sales per year.
Pair that sales figure with the fact that 14.8% of American households have an FSA account (National Center for Health Statistics) and you get 16.5 million families saving pre-tax income dollars on some $3.3 billion in sales across more than 55,000 retail pharmacy outlets. That’s a burgeoning market of some consequence. And it’s a health benefit that has been utilized at greater rates thanks both to the inclusion of OTCs and the convenience of FSA debit cards.
Walgreens elevates Miquelon, Spina, caps overhaul of merchandising unit
DEERFIELD, Ill. Walgreens said late Friday it has promoted several key executives in finance, corporate strategy and other areas, and completed the overhaul of its merchandising management team by hiring Wal-Mart veteran Steve Broughton to oversee the consumables category.
The promotions involve Wade Miquelon, elevated to EVP and CFO; and John Spina, named corporate VP of retail integration and new format development. Both promotions were effective July 1.
Miquelon, 44, is a relative newcomer to the 6,902-store drug chain and health services giant. He joined Walgreens as senior VP and CFO in June 2008, and will continue to oversee accounting, tax and treasury functions, including investor relations.
“In the short time he’s been with Walgreens, Wade has delivered tremendous value while bringing effective change that’s showing results,” said Walgreens president and CEO Greg Wasson. “We’re pleased to recognize his work and the value he brings to the leadership team.”
Prior to Walgreens, Miquelon was EVP and CFO for Springdale, Ark.-based Tyson Foods. He also spent 16 years with Proctor & Gamble, the world’s largest consumer goods product company.
Spina, 50, is a 30-year Walgreens veteran who spent 28 years in store operations and last served as VP and treasurer. In his new role, he is charged with “bringing a more focused approach to how Walgreens integrates new businesses,” the company noted Friday. In line with the company’s “Customer-Centric Retailing” initiative, Spina also will work to develop new store formats and increase performance from existing store formats through more flexible layouts.
“Throughout his lengthy Walgreens career, John has demonstrated the ability to uncover opportunities and lead teams through complex projects,” Wasson said. “There’s no one better to take on this new challenge as we seek more innovative ways to leverage the best store network in America.”
Separately, the company revealed it has completed filling out its team of general merchandise managers and divisional VPs with the addition of Broughton, a 23-year Wal-Mart veteran who last served the discount store giant as VP and divisional merchandise manager for food and consumables. Broughton will join the company July 13 as GMM and divisional VP for consumables.
In other moves, Walgreens elevated Bruce Schmiedl from director of facilities planning, design and engineering to divisional VP overseeing the same activities. Also promoted is Bob Roscoe, from director of asset development to divisional VP in charge of property acquisition and development, and specialty real estate.
Supervalu’s Noddle to receive award from Network of Executive Women
CHICAGO Jeff Noddle, executive chairman of Supervalu, was named the Network of Executive Women’s Outstanding Champion for 2009 on Thursday.
Noddle will receive the award Aug. 31 during a consumer products industry luncheon at the GMA Executive Conference in Colorado Springs, Colo.
“Supervalu is the epitome of what NEW looks for in a partner and champion,” stated Alison Kenney Paul, NEW president and a principal with Deloitte Consulting. “Jeff and the Supervalu team have been steady supporters of the Network’s mission, and I am so happy to be able to add them to our impressive list of champions.”
The Outstanding Champion award, sponsored by Deloitte, is presented each year to a senior-level consumer products industry leader “who has consistently championed the mission of NEW, created diverse, high-performance work teams, demonstrated the business imperative of diversity and inclusion, and challenged the industry to remain an employer of choice.”
“Supervalu executives serve on both our regional and national committees, where they have freely shared their diversity best practices that make them a leader in our industry,” stated Joan Toth, NEW’s executive director. “This is the second time a Supervalu executive has been named a NEW Outstanding Champion, proving again their dedication to our organization.”