Walgreens Boots Alliance [NASDAQ: WBA] Stefano Pessina Decides To Steps Down As CEO

Stefano Pessina of Walgreens Boots Alliance, Inc. [NASDAQ: WBA] announced today that he has decided to leave his position as the CEO. He has informed the board of directors today. The board will start the search for the new CEO. Pessina will take over as executive chairman and James Skinner will leave his position as executive chairman but will remain on the board to help a smooth transition to leadership.

After the successful merger of Walgreens and Boots Alliance in December 2014, Pessina was elected as the vice-chairman of the Walgreens Boots Alliance in January 2015. He worked as the interim CEO from January 2015 and was appointed as the CEO in July 2015.

Under the leadership of Pessina and James Skinner, Walgreens and Boots Alliance has got success in various acquisitions and strategic partnerships and has adopted various changes in their leadership.

If we look at the current development of WBA, it has delivered various benefits to its customers, patients, shareholders and local communities. In addition to this, WBA also completed its four key strategic priorites including creation of neighborhood health destinations, driving cost transformation, accelerating digitalization and restructuring its retail offering.

Shares of Walgreens Boots Alliance traded down 2.38% at $39.55 during the trading of Monday. It has a day low range of $39.45 and a day high range of $40.95. WBA had a trading volume of 2.15 million as compared to the average volume of 6.95 million.

In the past 52-weeks of trading its stocks has oscillated between the 52-weeks low of $36.65 and 52-weeks high of $64.50. If we look at its profitability, its return on assets is 0.90%, return on equity is 3.30%, and return on investment is 10.90%.

WBA’s gross margin is 20.50%, profit margin is 0.50% and an operating margin is 1.10%. Looking at its liquidity, it has quick ratio of 0.30 and a current ratio of 0.70. WBA has recorded the sales of 138.74 billion and has market cap of 34.96 billion.