Walgreen Inc. has named Wade D. Miquelon as senior vice president and chief financial officer, effective June 16, in a move that reshuffles the drugstore chain’s finance and risk leadership.

Miquelon joins Walgreen from Tyson Foods, where he served as executive vice president and chief financial officer. At Walgreen he will oversee accounting, tax and treasury functions, succeeding William Rudolphsen, a 31-year company veteran who will become Walgreen’s first senior vice president and chief risk officer. In the new role Rudolphsen will continue to report to chairman and chief executive Jeffrey A. Rein while leading audit, loss-prevention, compliance and enterprise-risk management efforts.

Company leadership framed the change as part of a broader trend among large corporations to separate financial stewardship from risk oversight, reflecting Walgreen’s size, regulatory complexity and focus on strengthening risk identification and mitigation.

Miquelon brings to Walgreen a background that spans consumer goods and food processing. He spent 17 years at Procter & Gamble in increasingly senior finance posts, including vice president of finance for Western Europe and head of finance and accounting for the ASEAN, Australasia and India region. From 2006 until his move to Walgreen, Miquelon was the chief financial officer at Tyson Foods.

After his initial tenure at Walgreen, Miquelon’s résumé continued to expand. He has served on corporate boards, including a directorship at Acadia, and moved into retail leadership as president and chief executive officer of Jo-Ann Stores, the national fabric and craft specialty chain. At P&G he also engaged in venture investing and helped launch a software joint venture, showcasing a blend of operational finance and strategic growth experience.

Analysts say the appointment underscores Walgreen’s intent to bolster its financial leadership amid a shifting retail and regulatory landscape. By placing an experienced finance executive in the CFO role while elevating risk management to a C-suite discipline, the company aims to sharpen fiscal oversight and compliance controls as it navigates competitive pressures and industry complexity.

Wade D. Miquelon’s combination of multinational consumer-goods experience and corporate finance credentials positions him to steer Walgreen’s financial operations during this next phase of the company’s evolution.