Rosalind “Roz” Brewer
Jason Redmond | Afp | Getty Images
Walgreens Boots Alliance said Friday that Roz Brewer had stepped down as the company’s chief executive.
She also left the company’s board, effective Thursday. According to a press release, the decision was mutual.
Brewer, Walgreens and their respective businesses were going through a tough time prior to the announcement on Friday. Walgreens’ shares have fallen more than 32 percent this year, according to Thursday’s closing price. The company is struggling with a decline in demand for Covid tests and vaccines. The company missed Wall Street’s expectations in the fiscal third quarter for the first since July 2020. It also slashed its profit guidance for the year.
Walgreens said it is searching for a new CEO. Brewer, a veteran of Walmart, Starbucks and Walgreens, has led Walgreens as its CEO since March 2021. During her brief tenure, which included a sizable stretch of the Covid pandemic, the company had pursued a transition that would position Walgreens more as a health care company than a pharmacy chain.
“I am confident that WBA is on track to be a leading consumer-centric healthcare company, serving thousands of communities across the country, especially those that need access to healthcare the most,” Brewer said in Friday’s announcement.
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