Walgreens Boots Alliance names Stefano Pessina permanent CEO, trumps 3Q earnings forecasts

Walgreens Boots Alliance Inc. is naming Stefano Pessina CEO, making permanent a role the executive has filled since the largest drugstore chains in the United States and Great Britain closed their combination at the end of last year.

The 73-year-old Pessina helped engineer the combination of Walgreen Co. and European health and beauty retailer Alliance Boots, which was finished last year when Walgreen said it would pay about $16 billion in cash and stock to buy the remaining stake in Alliance Boots that it did not already own.

Pessina had served interim replacement for Walgreen leader Greg Wasson, who retired after the tie-up was completed.

Walgreen also reported on Thursday adjusted fiscal third-quarter earnings of $1.02 per share, which trumped analyst expectations.

Walgreens shares are climbing in early trading.