Walgreens Boots Alliance CEO Steps Down

Walgreens Boots Alliance (WBA) has announced a transition in its CEO role.

The healthcare, pharmacy and retail firm said in a Friday (Sept. 1) press release that its board of directors and Rosalind Brewer mutually agreed that Brewer would step down as CEO and as a member of the board, as of Thursday (Aug. 31).

WBA’s current lead independent director, Ginger Graham, has been appointed as interim CEO, according to the press release. The board is now searching for a new CEO, and Brewer will continue to advise WBA during that search.

The company also said in the release that it expects its full-year 2023 adjusted earnings per share (EPS) to be “at or near the low end” of its previously stated range.

“Our board and leadership team will intensify our focus on creating value for our customers and our shareholders while we advance the search for a successor with deep healthcare experience to lead in today’s dynamic environment,” WBA Executive Chairman Stefano Pessina said in the release.

Pessina thanked Brewer on behalf of the entire board for her contributions to the company and for leading the company “during this period of unprecedented change.”

Brewer was named CEO in March 2021 and built and led a team to schedule and implement the delivery of the COVID-19 vaccines that were being introduced at that time, according to the press release. In October 2021, Brewer led WBA’s expansion into healthcare and three strategic acquisitions that were part of that move.

“Roz navigated the company through the global pandemic, overseeing the critical rollout of vaccines in Walgreens pharmacies and to high-risk populations across the country,” Pessina said in the release. “She furthered our consumer-facing capabilities while supporting the culture of community and team-member engagement in difficult times.”

Brewer said in the release that during her time at WBA, the company recruited a world-class team, created the positions of chief customer officer and president of U.S. healthcare, and invested to improve the company culture.

“I am confident that WBA is on track to be a leading consumer-centric healthcare company, serving thousands of communities across the country, especially those that need access to healthcare the most,” Brewer said in the release.

Graham, WBA’s interim CEO, has held leadership positions across the healthcare industry for nearly 30 years and has served on the company’s board of directors since 2010, according to the press release.

Walgreens said in June that cautious consumer behavior and declining demand for COVID-19 vaccines had led to disappointing results for the company.

“We had called out COVID as a wildcard heading into the quarter and have unfortunately seen less patient willingness to vaccinate,” Brewer said on June 27 during the company’s quarterly earnings call.