Plus   Neg

Walgreens Boots Alliance CEO Stefano Pessina To Step Down - Quick Facts

Walgreens Boots Alliance, Inc. (WBA) on Monday announced a leadership transition plan and said that Stefano Pessina has decided to step down as the company's Chief Executive Officer, after more than five years in that role.

The company's board of directors will begin a search for a new CEO. At the time of the appointment of the new CEO, Pessina will assume the role of executive chairman. James Skinner will step down as executive chairman, but remain on the board to facilitate a smooth leadership transition.

Following the merger between Walgreens and Alliance Boots in December 2014, Pessina was appointed executive vice chairman in January 2015. He served as interim CEO from January 2015, and was confirmed in the role from July 2015. Skinner has served as executive chairman of WBA since January 2015.

Walgreens Boots Alliance or WBA noted that after the merger, it successfully completed several strategic partnerships and acquisitions under the leadership of Pessina and Skinner.

WBA has a large global pharmaceutical wholesale and distribution network, with more than 400 distribution centers supplying more than 115,000 pharmacies, doctors, health centers and hospitals each year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
After providing free and discounted rides to the polls on Election Day, Lyft is now set to support voters with discounted rides to the polls for the federal runoff races in Louisiana and Georgia. They also provided similar rides during the primary season. The ride-sharing company is continuing its Voting Access Program to provide affordable transportation to voters in need. Discount retailer Dollar General Corp. and supermarket chain Kroger Co. on Thursday reported sharp increases in their quarterly profits on higher sales. While Dollar General's results trounced analysts' estimates, Kroger's earnings beat expectations while revenue fell short. Dollar General's profit for the third quarter surged 57 percent from last year. On January 4, 2021, Discovery plans to launch its new standalone streaming service called Discovery+ which will also offer exclusive streaming access to the BBC's award-winning natural history shows like Planet Earth, Blue Planet, and Frozen Planet. The channel is expected to offer the largest content of real-life entertainment provided by any streaming platform at launch.
Follow RTT