Walgreens Boots Alliance has hired Starbucks Corp. operating chief Rosalind Brewer as its next chief executive, according to sources close to the company.
Brewer will replace Stefano Pessina as the global drugstore chain’s top executive. Pessina, who is also Walgreens largest individual shareholder, was key to the selection of Brewer. Walgreens Tuesday evening wouldn’t confirm Brewer as the choice but sources said an announcement was imminent.
Pessina, who is 80 years old, announced his plans to step down as CEO in July. It was unclear when Brewer planned to takeover as CEO.
Brewer faces many challenges at Walgreens, which has been under an intense pressure on Walgreens, which has seen flat or falling sales in the U.S. and Europe as more customers buy their prescriptions online and the global Covid-19 pandemic hurts in-person store sales. Last year, there were reports Walgreens was going to engineer a leveraged buyout but there’s been no indication from the company lately that a strategy to take the company private is in the works.