Alliance Boots notes the announcement from Walgreens that Greg Wasson, President and CEO, has informed its board of directors that he will retire shortly after the completion of the full merger between Walgreens and Alliance Boots.
Following Greg’s retirement, Stefano Pessina, Executive Chairman, Alliance Boots, will become acting CEO of the new enterprise, pending a board search for a successor. In addition, James Skinner, Chairman of Walgreens, will become Executive Chairman of Walgreens Boots Alliance Inc, and William Foote will serve as the lead independent director of the new board of Walgreens Boots Alliance Inc.
Walgreens will hold a special Meeting of shareholders on 29 December 2014 in New York City to vote on the merger between Walgreens and Alliance Boots.
The Walgreens Boots Alliance merger combines two leading companies with iconic brands, complementary geographic footprints, shared values and a heritage of trusted healthcare services through pharmaceutical wholesaling and community pharmacy care, dating back more than 100 years each. Combining the companies will create a new global leader in pharmacy-led health and wellbeing retail with more than 12,800* stores in 12* countries and an unparalleled portfolio of retail and business brands, as well as increasingly global health and beauty product brands.
The full combination also will establish the world’s largest pharmaceutical wholesale and distribution network with more than 370* distribution centres delivering to more than 180,000* pharmacies, doctors, health centres and hospitals in 20* countries. Walgreens Boots Alliance will be the world’s largest purchaser of prescription drugs and many other health and wellbeing products. The combined size, scale and expertise will help Walgreens and Alliance Boots expand the supply, and address the rising cost, of prescription drugs in America and worldwide.
Notes to editors:
About Alliance Boots
Alliance Boots is a leading international pharmacy-led health and beauty group delivering a range of products and services to customers. Working in close partnership with manufacturers and pharmacists, we are committed to improving health in the local communities we serve and helping our customers and patients to look and feel their best. Our focus is on growing our two core business activities of: pharmacy-led health and beauty retailing and pharmaceutical wholesaling and distribution, while increasingly developing and internationalising our product brands.
Alliance Boots has a presence in more than 27* countries and employs over 120,000* people. We have pharmacy-led health and beauty retail businesses in 11* countries and operate more than 4,600* health and beauty retail stores, of which more than 4,450* have a pharmacy, with a fast growing online presence. In addition, Alliance Boots has around 600* optical practices, of which around 180* operate on a franchise basis, and hearingcare services in around 430* locations. Our pharmaceutical wholesale businesses deliver over 4.5* billion units each year to more than 180,000* pharmacies, doctors, health centres and hospitals from over 370* distribution centres in 20* countries.
In June 2012, Alliance Boots announced that it had entered into a strategic partnership with Walgreen Co. (Walgreens), the largest drugstore chain in the US. In August 2014, Alliance Boots and Walgreens communicated that they plan to merge in the first quarter of calendar 2015 to create the first global pharmacy-led, health and wellbeing enterprise, which will be named Walgreens Boots Alliance.
* Figures are approximations as at 31 March 2014, with the addition of Farmacias Ahumada data at the date of its acquisition on 11 August 2014, and include associates and joint ventures.
For further information, please contact:
Yves Romestan/Laura Vergani/Katie Johnson/Julie Longton, Alliance Boots: +44 (0)207 980 8585
James Murgatroyd/Claire Scicluna, RLM Finsbury: +44 (0)207 251 3801
Gerald Gradwell, Alliance Boots: +44 (0)207 980 8527 (UK)/+1 646 688 1336 (US)