Walgreens CEO Roz Brewer steps down
Roz Brewer was tapped to lead Walgreens in March 2021
Walgreens said Friday that its top boss, Roz Brewer, is stepping down after just more than two years in the role.
Brewer, who assumed the role of chief executive in March 2021, is also stepping down from the board, effective immediately, the company said. Brewer's departure was a mutual decision, Walgreens said.
Ginger Graham, current lead independent director of Walgreens Boots Alliance, will serve as the interim CEO while the company conducts a search for Brewer's permanent replacement. Brewer will continue to advise Walgreens during that time.
Graham held leadership positions across the health care industry for nearly three decades including serving as the former CEO of Amylin Pharmaceuticals.
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Brewer took over the company in the midst of the COVID-19 pandemic and as staffing shortages mounted across the industry. She is credited with helping oversee the rollout of critical coronavirus vaccines throughout communities across the nation.
Rosalind Brewer, chief executive officer of Walgreens Boots Alliance Inc., during an interview at the Economic Club of Washington D.C. in Washington, on Dec. 7, 2022. (Valerie Plesch/Bloomberg via Getty Images / Getty Images)
MORE WALGREENS PHARMACIES RETURN TO NORMAL HOURS AS STAFF SHORTAGE EASES
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WBA | WALGREENS BOOTS ALLIANCE INC. | 8.24 | -0.05 | -0.60% |
Within a few months on the job, Brewer helped the company's growth into health care, including overseeing three strategic acquisitions to expand and accelerate its consumer-centric health care offerings, Walgreens said. She is credited with helping oversee the rollout of critical coronavirus vaccines throughout communities across the nation.
Brewer also created and led a team to implement technology for a vaccine scheduling system and developed a plan to "drive vaccine equity," Walgreens said.
However, the company's shares have been pummeled all year, down about 32% as its pharmacy unit has been hit by a steeper-than-expected fall in demand for COVID tests and vaccines.
The stock is down roughly 47% since March 2021 when Brewer joined the company Walgreens.
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Prior to her tenure at the pharmacy chain, Brewer served as Starbucks' chief operating officer for three years, and as a director prior to that. She also served as the CEO of Walmart's Sam's Club.
Reuters contributed to this report