PNC Financial Services Group in Pittsburgh has named former Walgreens Chief Executive Gregory Wasson to its board.

The $340 billion-asset company expanded its board to 14 members to add Wasson. He will serve on PNC's audit committee, effective immediately. He has also been a Verizon Communications director since 2013.

Wasson retired from Walgreens in December, after working as CEO since 2009, following its combination with Alliance Boots. Wasson also led Walgreens' 2011 acquisition of Drugstore.com and its 2010 purchase of Duane Reade.

Wasson led a "company with thousands of retail locations in an industry that, like banking, is undergoing rapid transformation," William Demchak, PNC's chairman and CEO, said in a news release. "His insights will benefit PNC as we work to drive our highest strategic priorities."

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