Brewer and Walgreens were in a rough patch leading up to Friday’s announcement.
Walgreens shares are down more than 32% this year as of Thursday’s close, as the company has struggled with a drop in demand for Covid testing and vaccines.that missed Wall Street expectations for the first time since July 2020. It also slashed its profit guidance for the year.
Walgreens said it is searching for a new CEO. In the meantime, Ginger Graham, the lead independent director, will work as interim chief. A veteran of Walmart and Starbucks, Brewer had led Walgreens since March 2021. During her brief tenure, which included a sizable stretch of the Covid pandemic, the company had pursued a transition that would position Walgreens more as a healthcare company than a pharmacy chain.
“I am confident that WBA is on track to be a leading consumer-centric healthcare company, serving thousands of communities across the country, especially those that need access to healthcare the most,” Brewer said in Friday’s announcement.
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