Walgreens Poaches Starbucks Executive Rosalind Brewer for CEO

 proxy.yoo.workers.dev  01/26/2021 23:51:00   Dana Mattioli Close Dana Mattioli Biography @DanaMattioli [email protected] and Cara Lombardo Close Cara Lombardo Biography @CaraRLombardo [email protected]

Photo: 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, who said in July that he would step down as CEO once the drugstore company found a new leader. Mr. Pessina, one of Walgreens biggest individual investors, will stay on the companys board and serve as executive chairman.

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.

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 Walmart Inc.s Sams Club division for five years.

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

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