Rosalind Brewer is out at Walgreens

By Frederick H. Lowe

Rosalind Brewer, the CEO of Walgreens Boots Alliance, which owns Walgreens’ pharmaceutical Brewer chain, has been given the sack. 

The company’s stock also dipped with Brewer’s departure. Her last day on the job was effective Friday, September 1.

Brewer resigned after three years on the job as the result of a mutual agreement with Walgreens’ board due to declining profits and a shrinking stock price. 

The Deerfield, Ill., based company also owns Boots Alliance overseas. The closing stock price closed at $23.43, down $1.88. 

She will nonetheless leave the company a wealthy woman.

Brewer will leave Walgreens with a $9 million severance, twice her annual base salary. She also will be paid a monthly consulting fee of $375,000 through Feb. 29, 2025.

She will be replaced by Ginger Graham as interim CEO. Graham has served on Walgreens’s board since 2010.

Brewer joined Walgreens from Starbucks. She took the top job in March 2021.

Walgreens operates retail pharmacies with approximately 13,000 locations across the U.S., Europe, and Latin America. WBA plays a critical role in the healthcare ecosystem.