- Roz Brewer is leaving as CEO of Walgreens after more than two years.
- Walgreens stock has struggled this year.
- The company has been hit by a decline in demand for Covid vaccines and testing.
Rosalind “Roz” Brewer
Jason Redmond | Afp | Getty Images
Walgreens Boots Alliance announced Friday that Roz Brewer has resigned as the company’s chief executive officer.
She also resigned from the company’s board of directors effective Thursday. According to a press release, the decision was amicable.
Brewer and Walgreens were in a difficult spot leading up to Friday’s announcement. Shares of Walgreens are down more than 32% this year as of Thursday’s close as the company struggles with a decline in demand for Covid testing and vaccines. In June, the company reported fiscal third-quarter earnings that missed Wall Street expectations for the first time since July 2020. The company also lowered its earnings guidance for the year.
Walgreens said it is looking for a new CEO. Meanwhile, lead independent director Ginger Graham will act as interim boss.
Brewer, a veteran of Walmart and Starbucks, had led Walgreens since March 2021. During her short tenure, which included a significant portion of the Covid pandemic, the company had sought a shift that would position Walgreens as a healthcare company rather than a pharmacy chain.
“I am confident that WBA is on its path to becoming a leading consumer-focused healthcare company, serving thousands of communities across the country, particularly those who need access to healthcare most,” Brewer said in Friday’s announcement.
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