Walgreens Boots Alliance (ticker: WBA) announced on Friday that Rosalind Brewer will be stepping down as the Chief Executive Officer of the retail pharmacy company. The decision was mutually agreed upon by Brewer and the company's board, marking a leadership transition for Walgreens. While Brewer officially stepped down on August 31, she will continue to provide advisory support to the company during the search for a permanent replacement.
As of now, Ginger Graham, the current lead independent director of Walgreens, will serve as the interim CEO throughout the search process. Walgreens expressed confidence in Graham's ability to lead the company during this period of transition.
Brewer took on the role of CEO in March 2021 and has played a pivotal role in positioning Walgreens as a consumer-centric healthcare provider. In her statement, she expressed her belief in the company's trajectory towards becoming a leader in delivering localized healthcare, particularly to underserved communities.
In addition to the leadership change, Walgreens also addressed its financial outlook. The company stated that it expects its fiscal-year adjusted earnings to align with or be close to the lower end of its previously announced range.
This news comes amidst a challenging year for Walgreens, as its stock has experienced a significant decline. As of premarket trading on Friday, shares were down 0.2% to $25.26. Year-to-date, the stock has dropped by 32%, with a 16% decline over the past three months.
