Walgreens Taps Starbucks Exec As CEO In Historic Move For Company

DEERFIELD, IL — Walgreens Boots Alliance made company history on two fronts Tuesday. The parent company of Walgreens, based in Deerfield, named Roz Brewer its chief executive officer, the first Black and woman in that role ever for the retail and wholesale pharmacy company.

Brewer, who most recently served as the chief operating officer of Starbucks Corporation, will take the reins March 15, according to a release. She will succeed Stefano Pessina, who has served as the CEO of the combined company for six years following the merger between Walgreens and Alliance Boots in December 2014. As previously announced in July of last year, Pessina will transition to the role of executive chairman of the board at WBA.

"WBA is a world-class and trusted organization whose purpose I deeply admire," Brewer said in the release. "The healthcare industry is constantly evolving, and I am excited to work alongside the entire WBA team as we deliver further innovation and positively impact the lives of millions of people around the world every day. This is especially true today as the company plays a crucial role in combatting the COVID-19 pandemic."

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According to Fortune, when Brewer begins the role, she will be the only Black woman chief executive for a Fortune 500 company and just the third in history. She will be also be one of 40 women currently running a Fortune 500 company.

Shares of Walgreens, with a market value of around $43 billion, rose 8 percent after the news broke of Brewer's hiring, according to The Wall Street Journal. Walgreens Boot Alliance oversees 9,277 Walgreens and Duane Reade stores in the U.S.

Brewer will also join the WBA Board of Directors upon assuming the CEO role. According to the release, she brings to WBA a "proven track record of leadership and operational expertise at multi-national corporations, with deep experience in strategic development, marketing, digital transformation and loyalty, innovation and technology, supply chain and store development."

At Starbucks, in addition to her role as CEO, Brewer was group president and member of the board of directors of Starbucks Corporation, where she is credited as being instrumental in helping the company accelerate its growth strategy, expand its global reach and drive value for all of Starbucks’ diverse stakeholders, according to the release.

Prior to joining Starbucks, Brewer served as president and CEO of Sam’s Club, the members-only warehouse channel of Walmart Inc. She was at Sam's Club from 2012-2017.

"The Board conducted an extensive search to identify an exceptional leader who will build on WBA’s track-record of success and take advantage of the many growth opportunities in many markets across the company. We are excited to have found that person in Roz," Pessina said in the release. "She is a distinguished and experienced executive who has led organizations globally through periods of changing consumer behavior by applying innovation that elevates customer experiences — ultimately driving significant and sustainable growth and value creation."

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