Walgreens CEO Roz Brewer steps down after more than 2 years in the role

Walgreens CEO Roz Brewer steps down after more than 2 years in the role


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. The decision was mutual, according to a news release.

Brewer and Walgreens were in a rough patch leading up to Friday’s announcement. Walgreens shares are down more than 32% this year as of Thursday’s close, as the company has struggled with a drop in demand for Covid testing and vaccines. In June, the company reported fiscal third quarter earnings that missed Wall Street expectations for the first time since July 2020. It also slashed its profit guidance for the year.

Walgreens said it is searching for a new CEO. In the meantime, Ginger Graham, the lead independent director, will work as interim chief.

A veteran of Walmart and Starbucks, Brewer had led Walgreens 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.

This is breaking news. Please check back for updates.



Source

Shares of breast cancer therapy developer Olema Pharmaceutical could more than double from here
Health

Shares of breast cancer therapy developer Olema Pharmaceutical could more than double from here

Wall Street is optimistic that Olema Pharmaceutical could be developing the next major breakthrough breast cancer treatment. Earlier this month, the company announced promising clinical data for its lead candidate palazestrant, an oral medication that is being evaluated in several trials for estrogen receptor-positive, or ER+, breast cancer. Shares of the clinical-stage biopharmaceutical company are up […]

Read More
This biotech stock has jumped nearly 50% in 3 months. Its CEO says business is ‘growing substantially’
Health

This biotech stock has jumped nearly 50% in 3 months. Its CEO says business is ‘growing substantially’

It’s been a stellar few months for shares of San Francisco-based biotech company Rigel Pharmaceuticals, which has approved treatments for rheumatology and oncology — as well as potential new drugs in the pipeline. The stock has jumped about 50% in just the last three months, earning it a spot on CNBC’s list of top performing […]

Read More
We’re raising our Eli Lilly price target — what a difference a quarter makes
Health

We’re raising our Eli Lilly price target — what a difference a quarter makes

Eli Lilly shares jumped Thursday after the drugmaker posted a strong third quarter, driven by sales of its popular GLP-1 medications. The company also raised its full-year sales outlook for the second time in a row, inspiring confidence in the trajectory of the franchise. Revenue in the three months ended Sept. 30 jumped 54% year […]

Read More