Alliance Boots and Walgreens announce changes to leadership team

Alliance Boots and Walgreens have provided an update on the composition of their executive leadership team when their merger to become Walgreens Boots Alliance is completed.

Walgreens has announced that its president and chief executive officer (CEO) Greg Wasson will be retiring shortly after the completion of the merger, necessitating a change in the joint leadership structure.

Stefano Pessina, executive chairman of Alliance Boots, will now become acting CEO of the new enterprise, pending a board search for a successor. Meanwhile, James Skinner, chairman of Walgreens, will become executive chairman of Walgreens Boots Alliance.

Finally, William Foote will serve as the lead independent director of the board of the new company. A special meeting of shareholders of both companies will take place on December 29th 2014 to vote on the merger.

The Walgreens Boots Alliance is set to be completed in the first quarter of 2015. The combined business will be the first global pharmacy-led, health and wellbeing enterprise.

A company statement said: "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."