Jul 27, 2020
Walgreens/Stefano Pessina: hanging his Boots up
Walgreens Boots Alliance is a company at a crossroads. As if on cue, the company on Monday announced that Stefano Pessina will step down as chief executive and become executive chairman. Formed from the merger between Walgreens and Alliance Boots in 2015, Walgreens is one of the biggest drugstore chains in the US, alongside CVS. However, the two companies have taken drastically different approaches to dealing with the upheaval in the US healthcare industry. By contrast, Walgreens has doubled down on its bricks and mortar presence. As executive chairman and Walgreens' single biggest shareholder, Mr Pessina will still hold plenty of sway over the company's strategy.
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