Walgreens Boots Alliance Announces Transition of Leadership to Continue Significant Progress on Key Strategic Priorities & Dr...
July 27 2020 - 9:00AM
Business Wire
Stefano Pessina Has Informed the Board of His
Decision to Step Down as CEO, to Become Executive Chairman of the
Board Once New CEO Is Named
James Skinner Will Step down as Executive
Chairman at That Time, and Remain on the Board
Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced
plans for a transition of leadership, to prepare for the
appointment of a new chief executive officer (CEO) to drive further
progress on its key strategic priorities and to transform the
business for the future to address the rapidly-evolving healthcare
sector.
Stefano Pessina has decided to step down as CEO. The board of
directors will begin a search for a new CEO, and at the time of
this appointment, Pessina will assume the role of executive
chairman and James (Jim) 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 chief executive officer from
January 2015, and was confirmed in the role from July 2015. Skinner
has served as executive chairman of WBA since January 2015.
After the merger, and under the leadership of Pessina and
Skinner, WBA successfully completed several strategic partnerships
and acquisitions, and was modernized, prepared for the future and
reorganized for more efficiencies and effectiveness. In this time,
WBA has delivered extensive benefits to customers, patients, local
communities and its shareholders, including the execution on its
four key strategic priorities: creating neighborhood health
destinations, driving cost transformation, accelerating
digitalization and restructuring its retail offering.
WBA is now a global leader in retail and wholesale pharmacy,
touching millions of lives every day by dispensing and distributing
medicines, as well as with other products and services through its
convenient retail locations and digital platforms. Including equity
method investments, WBA has a presence in more than 25 countries,
employs more than 440,000 people, has more than 18,750 stores and
offers an extensive portfolio of highly-regarded product
brands.
WBA also has one of the largest global pharmaceutical wholesale
and distribution networks, with more than 400 distribution centers
supplying more than 115,000 pharmacies, doctors, health centers and
hospitals each year. As the result of the efficiencies within this
system, the costs of vital medicines and other products have been
significantly reduced for customers and patients.
“It has been an enormous privilege to work with Stefano, the
board of directors and all our employees during my time as
executive chairman. I am deeply grateful for the opportunity, as
well as the chance to continue to serve as a board member in the
future. Together, we have built our company into a global leader in
retail and wholesale pharmacy,” said Skinner. “As the healthcare
industry and consumer behavior continue to advance quickly, we look
forward to a new CEO joining the team with the deep expertise and
skillset to drive future success as we move into a new chapter of
our company’s very long and proud history.”
“I want to thank our team members around the world for their
extensive achievements in the last five years, as we have fulfilled
our purpose to help people lead healthier and happier lives,” said
Pessina. “I look forward to continuing to serve the company as
executive chairman, and to helping to ensure the success of the new
chief executive officer in every way possible. I am also very glad
that Jim and I will continue to work together on the board, and on
behalf of the entire company, we greatly appreciate all his
contributions during his time as executive chairman.”
WBA is included in FORTUNE’s 2020 list of the World’s Most
Admired Companies. This is the 27th consecutive year that WBA or
its predecessor company, Walgreen Co., has been named to the
list.
The company’s businesses have also been recognized extensively
for leadership in Corporate Social Responsibility. Walgreens was
named to FORTUNE magazine’s 2019 Companies that Change the World
list, and Boots UK was recognized as Responsible Business of the
Year 2019-2020 by Business in the Community.
(WBA-GEN)
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