WASHINGTON — Steve Anderson, president and chief executive officer of the National Association of Chain Drug Stores, has been honored as the 2016 Trade Association CEO of the Year by an independent panel of association leadership experts.

NACDS said that Anderson is just the third CEO to receive the award, which is presented by CEO Update magazine.

The previous honorees were Thomas Donohue, president and CEO of the U.S. Chamber of Commerce, and Thomas Kuhn, president of the Edison Electric Institute.

The Trade Association CEO of the Year is recognized for effectiveness in presenting the industry or profession’s story, reputation for accomplishing the association’s mission, proven leadership in and outside the group, successful financial results, and demonstrated social capital through volunteer contributions to association-related, charitable or civic groups, according to NACDS.

“This award is one of the highest honors that can be given to an association executive, since it has only been given to two other CEOs previously,” NACDS chairman Randy Edeker said in a statement.