Walgreens Boots Alliance begins CEO search amid Brewer’s exit

Rosalind Brewer has stepped down as CEO of Walgreens effective Aug. 31 in what was a mutual decision with the board of directors, according to the company. She also resigned her board seat after less than three years on the job.

Walgreens said Brewer will continue to advise the company while it searches for a new CEO with “deep healthcare experience.” Ginger Graham, lead independent director, has been appointed interim chief. Graham was previously CEO of Amylin Pharmaceuticals and prior to that was group chairman, office of the president, for cardiology medical technology company Guidant Corporation. She started her career at Eli Lilly and Company.

Brewer joined Walgreens in March 2021, becoming the only Black female to lead a Fortune 500 company at the time. Prior to Walgreens Brewer served as COO and group president at Starbucks. Before that, she was president and CEO of Walmart’s Sam’s Club for five years.

“Our board and leadership team will intensify our focus on creating value for our customers and our shareholders while we advance the search for a successor with deep healthcare experience to lead in today’s dynamic environment,” said Pessina.

Brewer’s departure comes as Walgreens is shifting its focus from pharmacy retail to healthcare services. The business recently missed third-quarter earnings expectations and it cut the net income outlook for the year and into 2024.

“Roz navigated the company through the global pandemic, overseeing the critical rollout of vaccines in Walgreens pharmacies and to high-risk populations across the country,” said Pessina.

Walgreens also credited Brewer for leading efforts to set up the technology for a vaccine scheduling system, creating a safe operating model for store labor, and developing a plan to drive vaccine equity.