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Walgreens CEO to step down

Credit: REUTERS/Mohammad Khursheed

Walgreens Boots Alliance Inc said on Monday Chief Executive Officer Stefano Pessina has decided to step down from the position and will assume the role of executive chairman once a replacement is appointed. [nBwl56FLa]

Adds details about CEO Pessina

July 27 (Reuters) - Walgreens Boots Alliance Inc WBA.O said on Monday Chief Executive Officer Stefano Pessina has decided to step down from the position and will assume the role of executive chairman once a replacement is appointed.

Pessina, 79, was appointed as the CEO in 2015 following the merger between Walgreens and Alliance Boots.

Under Pessina, the company has explored several strategic partnerships and acquisitions including whether to go private following private equity interest.

"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," said Pessina.

Executive chairman James Skinner will step down, but will remain on the board, Walgreens added.

(Reporting by Trisha Roy in Bengaluru; Editing by Shinjini Ganguli)

((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3635;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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