After less than three years in the position, Walgreens’ CEO, Rosalind Brewer, has left the company, reports Forbes. The change comes as Walgreens seeks to reposition itself as a healthcare provider, according to the report.
Before joining Walgreens, Brewer served as COO and group president of Starbucks.
She drove Walgreen’s recent healthcare push by adding primary care centers to stores, acquiring Summit Health City MD, and investing in VillageMD. As a result, however, the sale of everyday items fell, as competitors offer faster delivery or better prices, according to the report. Since joining Walgreens, its share price has fallen 47 percent.
Last month, Walgreens’ CFO James Kehoe left the company. Lead independent director Ginger Graham has been appointed interim CEO while the company searches for a permanent replacement.
Walgreens’ executive chairman Stefano Pessina shared that the company would “advance the search for a successor with deep healthcare experience to lead in today’s dynamic environment.” This verifies a shift away from traditional drugstore merchandising and towards healthcare solutions.
Brewer will stay with the retailer as a special advisor through February 2024. Full Story
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