Walgreens Boots Alliance CEO Stefano Pessina To Step Down - Quick Facts

(RTTNews) - Walgreens Boots Alliance, Inc. (WBA) on Monday announced a leadership transition plan and said that Stefano Pessina has decided to step down as the company's Chief Executive Officer, after more than five years in that role.

The company's board of directors will begin a search for a new CEO. At the time of the appointment of the new CEO, Pessina will assume the role of executive chairman. James Skinner will step down as executive chairman, but remain on the board to facilitate a smooth leadership transition.

Following the merger between Walgreens and Alliance Boots in December 2014, Pessina was appointed executive vice chairman in January 2015. He served as interim CEO from January 2015, and was confirmed in the role from July 2015. Skinner has served as executive chairman of WBA since January 2015.

Walgreens Boots Alliance or WBA noted that after the merger, it successfully completed several strategic partnerships and acquisitions under the leadership of Pessina and Skinner.

WBA has a large global pharmaceutical wholesale and distribution network, with more than 400 distribution centers supplying more than 115,000 pharmacies, doctors, health centers and hospitals each year.