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Walgreens Boots Alliance CEO Steps Down

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Walgreen Boots Alliance board of directors search for new CEO.

Walgreens Boots Alliance, Inc. (WBA) has announced its preparations for the appointment of a new CEO, as Stefano Pessina has decided to step down. Pessina will assume the role of executive chairman once the board of directors finds his replacement, and at that time the current executive chairman James Skinner will step down but remain on the board.

Following the merger between Walgreens and Alliance Boots in December 2014, Pessina was appointed executive vice chairman in January 2015. He served as interim CEO from January 2015, and was confirmed in the role from July 2015. Skinner has served as executive chairman of WBA since January 2015.

WBA has a presence in more than 25 countries, employs more than 440,000 people, has more than 18,750 stores and offers an extensive portfolio of highly-regarded product brands.

The company also has one of the largest global pharmaceutical wholesale and distribution networks, with more than 400 distribution centers supplying more than 115,000 pharmacies, doctors, health centers and hospitals each year.

“It has been an enormous privilege to work with [Pessina], the board of directors and all our employees during my time as executive chairman,” Skinner said. “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.”

“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,” Pessina said. “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. 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.”