Walgreens Says Stefano Pessina Plans to Step Down as Chief Executive
- Architect of Alliance Boots deal to become executive chairman
- Retail pharmacy business challenged by pandemic, online rivals
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Walgreens Boots Alliance Inc. said that Stefano Pessina plans to step down as chief executive officer, a move that comes as the drugstore giant faces the pandemic and longer-term shifts in the pharmacy business.
Pessina will assume the role of executive chairman after Walgreens appoints a new CEO, the company said in a statement. James Skinner will step down as executive chairman but plans to remain on the board to help with the leadership transition.