Walgreens Boots Alliance has appointed Roz Brewer as its next Chief Executive Officer. She will replace Stefano Pessina who announced last summer that he planned to transition to the role of Executive Chairman of the health & beauty giant.
Brewer will take up the position on 15 March from coffee chain Starbucks, where she is currently Chief Operating Officer. She previously served as President and CEO of Walmart’s Sam’s Club warehouse business from 2012 to 2017 and spent 22 years at Kimberly-Clark. She is also a former director of Amazon, Lockheed Martin and Molson Coors Brewing Company.
Pessina has served as the CEO of WBA for six years following the merger between Walgreens and Alliance Boots in December 2014. He will replace James Skinner as Chairman in March.
During his tenure, Pessina has tried to modernise the company, cut costs, and expand its retail footprint and digital activities.
However, WBA’s shares have lost value in recent years and its performance during 2020 was impacted by the pandemic as shoppers made fewer visits to its stores and disruption to health services reduced demand for prescriptions. Boots in the UK has been particularly hard hit, with its retail sales plummeting last year and Tesco overtaking it in the personal care and toiletries market.
However, its most recent first-quarter results showed some signs of recovery and group announced earlier this month that it had agreed a $6.5bn (£4.8bn) deal to sell its Alliance Healthcare distribution business to AmerisourceBergen in order to focus on improving the performance of its retail operations.
Wall Street welcomed Brewer’s appointment, sending WBA’s shares up over 8% in after-hours trading last night.
Commenting on the appointment, Pessina said: “She is a distinguished and experienced executive who has led organizations globally through periods of changing consumer behaviour by applying innovation that elevates customer experiences – ultimately driving significant and sustainable growth and value creation.
“Her relentless focus on the customer, talent development, operational rigor and strong expertise in digital and technological transformation are exactly what WBA needs as the company enters its next chapter.”
Brewer added: “The healthcare industry is constantly evolving, and I am excited to work alongside the entire WBA team as we deliver further innovation and positively impact the lives of millions of people around the world every day. This is especially true today as the company plays a crucial role in combatting the Covid-19 pandemic.
“I step into this role with great optimism for the future of WBA, a shared responsibility to serve our customers, patients and communities, and a commitment to drive long-term sustainable value for shareholders.”
