- Upon transaction close, Chairman James
Skinner to become Executive Chairman of Walgreens Boots Alliance
and Stefano Pessina, Executive Chairman of Alliance Boots, to serve
as Acting CEO, pending board search for successor
- William Foote will serve as the lead
independent director of the Walgreens Boots Alliance board of
directors
Walgreens (NYSE: WAG) (Nasdaq: WAG) today announced that Greg
Wasson, president and chief executive officer, has informed the
company’s board of directors that he will retire shortly after the
close of the second step of the Alliance Boots transaction, on
which shareholders are scheduled to vote on Dec. 29, 2014.
Following the transaction close and Wasson’s retirement, Walgreens
Chairman James Skinner will become Walgreens Boots Alliance’s
executive chairman, and Stefano Pessina, executive chairman of
Alliance Boots and a member of the Walgreens board of directors,
will serve as its acting CEO, pending a board search for a
successor. In addition, William Foote will serve as the lead
independent director of the Walgreens Boots Alliance board of
directors.
“When I became CEO six years ago, I had three goals – to
transform the front end of Walgreens drugstores, to advance the
role that community pharmacy plays in health care and to find the
right partner to take Walgreens global,” Wasson said. “With the
creation of Walgreens Boots Alliance, it is now time for new
leadership to move that vision forward building on the global
platform we have created, executing on the company’s many
opportunities and creating long-term sustainable value for our
customers and shareholders. I could not be more proud of our
company or more grateful for the opportunities I have had to work
with so many incredible people since joining Walgreens over 35
years ago, and I am committed to doing my best to achieve the
smoothest possible leadership transition.”
Said Skinner, “Greg Wasson has been an excellent, visionary CEO,
and the personification of Walgreens best qualities since he joined
the company 35 years ago. On becoming CEO in 2009, at a challenging
time for all retailers, Greg led the company through a remarkable
transformation, including establishing Walgreens as a vital partner
in the delivery of modern community health care to U.S. consumers
and taking the company global with Alliance Boots. During his
tenure, he helped the company deliver total shareholder returns
exceeding the S&P 500 and generating more free cash flow over
six years than in the previous 98 years combined. The company is
positioned for a great future. On behalf of the board, I thank Greg
for all he has done for Walgreens, for his commitment to seeing us
through the Alliance Boots close and for his dedication to always
putting the company first.”
Pessina said, “The completion of the merger between Walgreens
and Alliance Boots and the establishment of the first global
pharmacy-led, health and wellbeing enterprise, are a fitting
tribute to Greg’s exceptional leadership and legacy at Walgreens.
Through his strategic vision, Greg has done more than transform an
iconic company – he has truly helped to change an entire industry
for generations to come. I look forward to working with James
Skinner and all the leaders of the future enterprise when we launch
the combined group.”
Wasson joined Walgreens in 1980 as a pharmacy intern while still
at Purdue University’s School of Pharmacy. Over several years, he
moved from managing pharmacies in Houston to become regional vice
president of store operations. From there he took on various
executive roles in the Walgreens Health Initiatives division,
leading to his promotion to chief operating officer and ultimately
to chief executive officer. On becoming CEO, Wasson focused
immediately on tackling retail pharmacy’s challenges, from the
severe economic recession, to the rapid commoditization of retail
consumer sales and pharmacy services, to rising drug prices and
mounting reimbursement pressures. He launched “Walgreens Plan to
Win,” a blueprint designed to revive and reinvent Walgreens for the
new era. “Plan to Win” transitioned the company from a program of
rapid organic store openings to a strategy leveraging core
businesses to improve the customer experience and return the
company to strong double-digit earnings growth and top-tier
shareholder returns. The company crystallized around three
strategic growth drivers: creating a Well Experience, advancing the
role of community pharmacy in health care and establishing the most
efficient global platform. In 2010, he led the acquisition of Duane
Reade and, in 2012, identified the opportunity to begin the process
of the strategic partnership with Alliance Boots.
In addition to Walgreens, Wasson is on the boards of Alliance
Boots GmbH, AmerisourceBergen and Verizon.
About Walgreens
As the nation's largest drugstore chain with fiscal 2014 sales
of $76 billion, Walgreens (www.walgreens.com) vision is to be
America’s most loved pharmacy-led health, wellbeing and beauty
enterprise. Each day, in communities across America, more than 8
million customers interact with Walgreens using the most
convenient, multichannel access to consumer goods and services and
trusted, cost-effective pharmacy, health and wellness services and
advice. Walgreens scope of pharmacy services includes retail,
specialty, infusion, medical facility and mail service, along with
online and mobile services. These services improve health outcomes
and lower costs for payers including employers, managed care
organizations, health systems, pharmacy benefit managers and the
public sector. The company operates 8,229 drugstores with a
presence in all 50 states, the District of Columbia, Puerto Rico
and the U.S. Virgin Islands. Walgreens digital business includes
Walgreens.com, drugstore.com, Beauty.com, SkinStore.com and
VisionDirect.com. Walgreens also manages more than 400 Healthcare
Clinic and provider practice locations around the country.
Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements: Statements
in this release that are not historical are forward-looking
statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Words such as
"expect," “likely,” "outlook," “forecast,” "would," "could,"
"should," “can,” “will,” "project," "intend," "plan," "goal,”
“target,” “continue," "sustain," “synergy,” "on track," "believe,"
"seek," "estimate," "anticipate," "may," “possible,” "assume," and
variations of such words and similar expressions are intended to
identify such forward-looking statements. These forward-looking
statements are not guarantees of future performance and involve
risks, assumptions and uncertainties, including, but not limited
to, those described in Item 1A (Risk Factors) of our most recent
Annual Report on Form 10-K, as amended, which is incorporated
herein by reference, and in other documents that we file or furnish
with the Securities and Exchange Commission. Should one or more of
these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those indicated or anticipated by such forward-looking
statements. Accordingly, you are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date they are made. Except to the extent required by law,
Walgreens does not undertake, and expressly disclaims, any duty or
obligation to update publicly any forward-looking statement after
the date of this release, whether as a result of new information,
future events, changes in assumptions or otherwise.
Important Information for Investors and Shareholders
In connection with the proposed transactions between Walgreens
and Alliance Boots GmbH, Walgreens Boots Alliance, Inc. (“WBA”) has
filed with the SEC a registration statement on Form S-4 and two
amendments thereto, as well as a definitive prospectus of WBA and a
definitive proxy statement of Walgreens in connection with the
proposed transactions. The registration statement, as amended, was
declared effective by the Securities and Exchange Commission (the
“SEC”) on November 24, 2014, and the definitive proxy
statement/prospectus was mailed to Walgreens’ shareholders on or
about November 24, 2014. INVESTORS AND SECURITY HOLDERS OF
WALGREENS ARE URGED TO READ THE DEFINITIVE PROXY
STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS
THERETO) AND OTHER DOCUMENTS RELATING TO THE TRANSACTIONS THAT HAVE
BEEN OR WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY
BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
TRANSACTIONS. Investors and security holders will be able to
obtain free copies of the registration statement and the definitive
proxy statement/prospectus and other documents filed with the SEC
by Walgreens or WBA through the website maintained by the SEC at
www.sec.gov. Copies of the documents filed with the SEC by
Walgreens or WBA will be available free of charge on Walgreens’
internet website at www.walgreens.com under the heading “Investor
Relations” and then under the heading “SEC Filings” or by
contacting Walgreens’ Investor Relations Department at (847)
315-2361.
Participants in the Solicitation
Walgreens, Alliance Boots GmbH, WBA and their respective
directors, executive officers and certain other members of
management and employees may be deemed to be participants in the
solicitation of proxies from the holders of Walgreens common stock
in respect of the proposed transactions. You can find information
about Walgreens’ directors and executive officers in Walgreens’
Annual Report on Form 10-K for the year ended August 31, 2014, as
amended. Additional information regarding the persons who are,
under the rules of the SEC, participants in the solicitation of
proxies in favor of the proposed transactions is set forth in the
definitive proxy statement/prospectus. You can obtain free copies
of these documents, which are filed with the SEC, from Walgreens
using the contact information above.
WalgreensMichael
Polzin847-315-2920http://news.walgreens.com@WalgreensNewsfacebook.com/Walgreens
West Africa Gold (NASDAQ:WAGI)
Historical Stock Chart
From Jan 2025 to Feb 2025
West Africa Gold (NASDAQ:WAGI)
Historical Stock Chart
From Feb 2024 to Feb 2025
