Burbank-based Compact Video said Theo Folz, chairman...

Burbank-based Compact Video said Theo Folz, chairman of its Brooks Drug subsidiary in Pawtucket, R.I., will become the drug store chain’s chief executive.

The former chief executive, William Sudhaus, will take a new position “related to the energy industry” with New York financier Ronald O. Perelman’s MacAndrews & Forbes, Compact Video said. MacAndrews & Forbes controls Compact Video through a 40% stake.

Folz will continue as president and chief executive of Consolidated Cigar Corp., a subsidiary of MacAndrews & Forbes.