Pessina: CEO of Walgreens Alliance Boots

Kasmira Jefford
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WALGREENS Boots Alliance said yesterday it has appointed Stefano Pessina as permanent chief executive following the US pharmacy giant’s takeover of Pessina’s European chain Alliance Boots last year.

The Italian billionaire, who is Walgreens Boots Alliance’s biggest shareholder, has been acting chief executive since Greg Wasson stepped down in January following the completion of the £5bn merger.

In a statement alongside its third quarter results yesterday chairman James Skinner praised Pessina for doing a “extraordinary job” leading the new enterprise.

The company reported a better-than-expected profit in the three months to 31 May, with net earnings up 39.9 per cent to $1.1bn (£720m) and net sales up 48 per cent to $28.8bn.

Separately, the firm behind high street chemist Boots said it has bought Avon Products’s Liz Earle skincare business for £140m.