Rosalind “Roz” Brewer
Jason Redmond | Afp | Getty Images
Walgreens Boots Alliance announced on Friday that Roz Brewer, the company’s chief executive, has stepped down.
Additionally, Brewer has left the company’s board, effective Thursday. The decision was mutually agreed upon, as stated in the official news release.
Brewer and Walgreens had encountered challenges leading up to this announcement. Walgreens’ shares have declined by over 32% this year, primarily due to a decrease in demand for Covid testing and vaccines. In June, the company reported lower fiscal third-quarter earnings, missing Wall Street expectations for the first time since July 2020. It subsequently revised its profit guidance for the year.
Walgreens has initiated a search for a new CEO. In the interim, Ginger Graham, the lead independent director, will serve as the interim chief.
Brewer, a seasoned executive with experience at Walmart and Starbucks, had been leading Walgreens since March 2021. Throughout her tenure, which coincided with a significant portion of the Covid pandemic, the company focused on transitioning Walgreens into a healthcare-focused organization rather than just a pharmacy chain.
“I am confident that WBA is on track to become a leading consumer-centric healthcare company, serving thousands of communities across the country, particularly those in need of accessible healthcare,” Brewer stated in Friday’s announcement.
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