{"id":1166,"date":"2021-02-11T12:22:06","date_gmt":"2021-02-11T11:22:06","guid":{"rendered":"https:\/\/a2kadvisory.com\/?p=1166"},"modified":"2021-03-01T11:11:39","modified_gmt":"2021-03-01T10:11:39","slug":"walgreens-poaches-starbucks-executive-rosalind-brewer-for-ceo","status":"publish","type":"post","link":"https:\/\/a2kadvisory.com\/fr\/2021\/02\/11\/walgreens-poaches-starbucks-executive-rosalind-brewer-for-ceo\/","title":{"rendered":"Walgreens Poaches Starbucks Executive Rosalind Brewer for CEO"},"content":{"rendered":"
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t
\n\t\t\t<\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t
\n\t\t\t<\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Rosalind Brewer, speaking at Starbucks\u2019 2019 annual meeting, joined the coffee giant from Walmart. Images: JASON REDMOND\/AGENCE FRANCE-PRESSE\/GETTY IMAGES.<\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Walgreens<\/a>\u00a0Boots Alliance Inc. named Starbucks Corp. operating chief Rosalind Brewer as its next chief executive, setting her up to be the only Black woman leading a Fortune 500 company today.<\/p>

Ms. Brewer will replace Stefano Pessina, who said in July that he would\u00a0step down as CEO<\/a>\u00a0once the drugstore company found a new leader. Mr. Pessina, one of Walgreens\u2019 biggest individual investors, will stay on the company\u2019s board and serve as executive chairman.<\/p>

Shares of Walgreens, which has a market value of around $43 billion, rose 8% after hours after The Wall Street Journal first reported on the move.<\/p>

Starbucks said Tuesday that Ms. Brewer, its chief operating officer and group president, was leaving both the company and board of Starbucks at the end of February for a new role at another public company. Before joining the coffeehouse chain, Ms. Brewer was CEO of\u00a0Walmart\u00a0<\/a>Inc.\u2019s<\/span>\u00a0Sam\u2019s Club division for five years.<\/p>

The 58-year-old executive, who goes by \u201cRoz,\u201d will join Walgreens and its board on March 15. She is also resigning from the board of Amazon.com Inc. on Feb. 16.<\/p>

The retail veteran joined Starbucks and its board in 2017. She helped shift Starbucks toward a focus on to-go operations during the pandemic and has worked to\u00a0diversify the company\u2019s leadership<\/a>. Starbucks last fall said it would\u00a0tie executive compensation\u00a0<\/a>to increasing minority representation in its workforce, and mandated antibias training for company leaders.<\/p>

In 2019, Ms. Brewer joined the board of Amazon amid pressure on the company to add more diversity to its board. Amazon has been increasingly expanding into the health-care space, becoming more of a competitor to companies such as Walgreens and CVS. In 2018, Amazon\u00a0bought online pharmacy PillPack<\/a>\u00a0for $1 billion.<\/p>

Mr. Pessina said Ms. Brewer\u2019s retail background, especially in growing Starbucks\u2019 digital presence, makes her well-suited for the top job at Walgreens.<\/p>

\u201cWe needed someone with an experience in retail and an experience in pharmacy and, more importantly, experience in digital,\u201d Mr. Pessina said in an interview. \u201cShe\u2019s very thoughtful and very personable, she\u2019s reasonable and she has all the qualities that are important for a chief executive.\u201d<\/p>

Walgreens, the largest U.S. drugstore chain, has been struggling to turn itself around, an effort complicated by the coronavirus pandemic. Mr. Pessina, an Italian billionaire, took over five years ago following the merger of Walgreens and European pharmacy chain Alliance Boots.<\/p>

\u00a0<\/div><\/figure><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Stefano Pessina visited a Walgreens in Deerfield, Ill., in March 2019. PHOTO: LUCY HEWETT FOR THE WALL STREET JOURNAL<\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Where rival\u00a0CVS Health<\/a>\u00a0Corp.<\/span>\u00a0has built itself into a health-care behemoth through acquisitions of pharmacy benefit manager Caremark in 2006 and insurer Aetna Inc., Walgreens shifted away from all-out acquisitions after unsuccessful attempts to buy insurer\u00a0Humana<\/a>\u00a0Inc.<\/span>\u00a0and pharmacy rival\u00a0Rite Aid<\/a>\u00a0Corp.<\/span><\/p>

Walgreens recently\u00a0announced plans to sell<\/a>\u00a0much of its wholesale pharmacy business in Europe, narrowing its focus on its U.S. namesake chain and the Boots pharmacy chain in the U.K.<\/p>

Reduced store traffic amid the coronavirus pandemic is exacerbating Walgreens\u2019 retail struggles, and the company\u2019s efforts to transform itself into a provider of health-care services have yet to take hold. The company also is\u00a0expected to play a central role<\/a>\u00a0administering the Covid-19 vaccine to the American public. Along with CVS, Walgreens worked with the federal government to administer doses at the nation\u2019s long-term-care facilities.<\/p>

In its latest quarter, the pharmacy chain\u2019s profit fell 25% even as overall revenue rose and the company worked to cut costs. Retail pharmacy sales increased 1.6% in the U.S., well below expectations, and executives said prescription volumes were weaker than planned.<\/p>

Last year, Walgreens was among the worst-performing members of the Dow Jones Industrial Average, with its shares falling 29.4%. The index gained 7.3% in 2020.<\/p>

The first African-American and first woman to lead a Walmart business unit, Ms. Brewer joined the retail giant in 2006 after two decades at\u00a0Kimberly-Clark<\/a>\u00a0Corp.<\/span>\u00a0, where she started as a chemist. She is a graduate of Spelman College, where she chairs the board of trustees. She previously served on the boards of\u00a0Lockheed Martin<\/a>\u00a0Corp.<\/span>\u00a0and\u00a0Molson Coors Beverage<\/a>\u00a0Co.<\/span><\/p>

\u201cRoz has a fabulous combination of traits. She is a scientist by training, she is deeply operational and she has a broad worldview. That combination just makes her a dynamo,\u201d said Jamie Gorelick, a fellow Amazon board member who has worked alongside Ms. Brewer for nearly two years.<\/p>

There are four Black CEOs in the Fortune 500: Kenneth Frazier of pharmaceutical giant\u00a0Merck & Co.<\/a>,<\/span>\u00a0Marvin Ellison of hardware store chain\u00a0Lowe\u2019s Cos.<\/a>,<\/span>\u00a0Roger Ferguson Jr. of TIAA, a financial services firm, and Ren\u00e9 Jones, who runs\u00a0M&T Bank<\/a>\u00a0Corp.<\/span>\u00a0in New York.<\/p>

The number of women running Fortune 500 companies hit an all-time high last year at 37 and more have since been appointed.<\/p>

\u2014Sharon Terlep and Heather Haddon contributed to this article.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Source : www.wsj.com <\/a>\/Images: JASON REDMOND\/AGENCE FRANCE-PRESSE\/GETTY IMAGES.
Rosalind Brewer, speaking at Starbucks\u2019 2019 annual meeting, joined the coffee giant from Walmart.<\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

Rosalind Brewer, speaking at Starbucks\u2019 2019 annual meeting, joined the coffee giant from Walmart. Images: JASON REDMOND\/AGENCE FRANCE-PRESSE\/GETTY IMAGES. Walgreens Boots Alliance Inc. named Starbucks Corp. operating chief Rosalind Brewer as its next chief executive, setting her up to be the only Black woman leading a Fortune 500 company today. Ms. Brewer will replace Stefano Pessina, […]<\/p>","protected":false},"author":1,"featured_media":1167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"sync_status":"","episode_type":"","audio_file":"","castos_file_data":"","podmotor_file_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","footnotes":""},"categories":[34],"tags":[36,37,35],"series":[],"class_list":["post-1166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-rosalind-brewer","tag-starbucks","tag-walgreens"],"episode_featured_image":"https:\/\/a2kadvisory.com\/wp-content\/uploads\/2021\/02\/im-290852.jpg","episode_player_image":"https:\/\/a2kadvisory.com\/wp-content\/uploads\/2023\/05\/19539922-1637334246902-6294ae5e06f42-3-scaled.jpg","download_link":"","player_link":"","audio_player":false,"episode_data":{"playerMode":"dark","subscribeUrls":{"amazon":{"key":"amazon","url":"","label":"Amazon","class":"amazon","icon":"amazon.png"},"anchor":{"key":"anchor","url":"https:\/\/anchor.fm\/a2k-advisory","label":"Anchor","class":"anchor","icon":"anchor.png"},"apple_podcasts":{"key":"apple_podcasts","url":"https:\/\/podcasts.apple.com\/us\/podcast\/the-right-advice\/id1596929049","label":"Apple Podcasts","class":"apple_podcasts","icon":"apple-podcasts.png"},"castro":{"key":"castro","url":"","label":"Castro","class":"castro","icon":"castro.png"},"deezer":{"key":"deezer","url":"","label":"Deezer","class":"deezer","icon":"deezer.png"},"soundcloud":{"key":"soundcloud","url":"","label":"SoundCloud","class":"soundcloud","icon":"soundcloud.png"},"spotify":{"key":"spotify","url":"https:\/\/open.spotify.com\/show\/1r3FwW7RFRGxZIoZOrQp70","label":"Spotify","class":"spotify","icon":"spotify.png"},"stitcher":{"key":"stitcher","url":"","label":"Stitcher","class":"stitcher","icon":"stitcher.png"},"youtube":{"key":"youtube","url":"https:\/\/youtube.com\/channel\/UCI4m4z0GcFZDCVk34Gbxoag","label":"YouTube","class":"youtube","icon":"youtube.png"},"itunes":{"key":"itunes","url":"","label":"iTunes","class":"itunes","icon":"itunes.png"}},"rssFeedUrl":"https:\/\/a2kadvisory.com\/fr\/feed\/podcast\/the-right-advice","embedCode":"

Walgreens Poaches Starbucks Executive Rosalind Brewer for CEO<\/a><\/blockquote>