Walgreens names industry veteran its interim CEO as Roz Brewer steps down

Roz Brewer has stepped down as the Chief Executive of Walgreens Boots Alliance Inc (NASDAQ: WBA). Shares of the retail pharmacy chain are down another 4.0% this morning.

Walgreens names Graham its interim CEO

The multinational has already started looking for a successor. Ginger Graham – a healthcare industry veteran and the lead independent director will assume the role in the meantime.

Brewer will continue to serve as an advisor until the company finds a permanent CEO. According to Stefano Pessina – the Executive Chairman of Walgreens:

Note that Roz Brewer also stepped down as a board member on Friday.

Walgreens stock has had a tough 2023

Walgreens has been rather challenged since the start of 2023 as reflected in a more than 30% year-to-date decline in its stock price.

In June, the Nasdaq-listed firm trimmed its future guidance after reporting a weak third quarter – and is now committed to positioning itself as a proper healthcare giant instead of just a drugstore. Ms. Graham said today:

Walgreens also confirmed in the press release that Brewer’s departure was a mutual decision. Wall Street currently rates its shares at “hold” on average.