NEW YORK (AP) — The CEO of Walgreens Boots is leading a major shakeup at the drugstore chain in less than three years, one that has come at a cost.
Walgreens Boots Alliance confirmed the withdrawal of Rosalind Beer on Friday. According to the Illinois company, the board of directors and Brewer “mutually agreed” to her resignation, effective Thursday.
Ginger Graham, who currently serves as the lead independent director of Walgreens Boots Alliance, has been named interim CEO.
“I am grateful for the opportunity to lead Walgreens Boots Alliance and work with such talented and dedicated colleagues,” Brewer said in a written statement.
Walgreens Boots Alliance, Inc. It is the parent company of Walgreens and other consumer brands – including Boots, Duane Reedy, No7 Beauty Company, Benavides and Ahumada.
Over the past several years, the company has gone from providing medicines to treating people with illnesses to helping its customers prevent them from getting sick.
That included major breakthroughs intended to position the company at the forefront of preventive care.
Walgreens VillageMD b About 9 billion dollars In November, urgent and primary care chain. Two months ago, he It spent nearly $1.4 billion. It’s not already an owner to buy the remaining stake in Shields Health Solutions and continues to push into the fast-growing specialty pharmacy.
As Walgreens tries to turn itself around, the company’s shares have come under heavy pressure. In the year Since the start of 2022, the stock is down about 54 percent.
“It’s not an area Walgreens wants to pursue as a big growth opportunity,” said Neil Saunders, managing director of GlobalData. Beer has more experience in the retail side of the business.
“Healthcare is a profitable sector and it’s not wrong to see Walgreens as a key part of its future playbook,” Saunders said.
Newly appointed Acting CEO Ginger Graham Saunders has a deep background in the healthcare and pharmaceutical industries.
Shares of Walgreens Boots Alliance were down about 1 percent at the opening bell on Friday.