Walgreens Boots Alliance CEO to exit

Walgreens Boots Alliance CEO Stefano Pessina has revealed plans to step down from the position.

The board of directors said they will begin a search for a new CEO, and at the time of this appointment, Pessina will assume the role of executive chairman. At the same time, James Skinner will also 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.

Skinner said: “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.

“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.”

Pessina said: “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.

“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.”

He added: “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.”