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George Fairweather

Kehoe to succeed Fairweather as CFO at WBA

Kehoe to succeed Fairweather as CFO at WBA

DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) recently announced the appointment of James Kehoe as the company’s executive vice president and global chief financial officer, effective June 1. Kehoe will succeed George Fairweather, who has served as WBA’s global CFO since February 2015. Fairweather has been instrumental in the formation of WBA, the subsequent integration

WBA to shut 600 stores in Rite Aid integration

WBA to shut 600 stores in Rite Aid integration

DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) is developing the picture of its future store base after turning the page on a nearly two-year process triggered by its proposed merger with Rite Aid Corp. Beginning next spring, WBA plans to shut 600 stores under an 18-month program to rationalize its U.S. drug store network

WBA to shut 600 stores in retail network overhaul

WBA to shut 600 stores in retail network overhaul

DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) plans to close 600 stores starting next year as it rationalizes its U.S. drug store base following the $4.375 billion purchase of 1,932 Rite Aid stores. In reporting its fiscal 2017 fourth-quarter and annual results on Wednesday, WBA said it expects to finalize the Rite Aid store acquisition

Walgreens upping ante in beauty

Walgreens upping ante in beauty

DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) is reaping success with its beauty differentiation program and is now planning to expand the initiative to more than 1,000 additional Walgreens stores by the end of 2017 while introducing more exclusive brands into the assortment. The first phase of the Walgreens beauty differentiation program’s rollout called

WBA execs confident about Rite Aid deal

WBA execs confident about Rite Aid deal

Not much else about the progress of the Walgreens-Rite Aid merger came out in yesterday’s fourth-quarter earnings conference call by Walgreens Boots Alliance. A swirl of media reports in recent months have gone back and forth about the number of store divestitures and whether the Federal Trade Commission will end up signing off on the

WBA makes financing move for Rite Aid acquisition

WBA makes financing move for Rite Aid acquisition

DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) Inc. has completed $12.8 billion in term loan facilities as part of the financing for its $17.2 billion deal to acquire Rite Aid Corp. WBA said Monday that the transactions include the placement of $5 billion of term loan facilities — split between two tranches of $2.5 billion

WBA shakes up industry with Rite Aid acquisition

WBA shakes up industry with Rite Aid acquisition

DEERFIELD, Ill. — The consolidation of chain drug retailing climaxed last month with Walgreens Boots Alliance Inc.’s (WBA’s) acquisition of Rite Aid Corp. In the largest outright purchase of a chain in the industry’s history, WBA agreed to acquire Rite Aid for $9 per share, or $17.2 billion, including debt. The price represents a premium

WBA sheds little light on Rite Aid deal

WBA sheds little light on Rite Aid deal

The morning after announcing its $17.2 billion agreement to acquire Rite Aid, Walgreens Boots Alliance (WBA) didn’t have much to say about the deal. In a conference call on WBA’s fiscal 2015 results, company executives cited the synergies of scale and broader U.S. market coverage that the addition of Rite Aid promises, but details weren’t

WBA management team knows what’s what

WBA management team knows what’s what

Walgreens Boots Alliance experienced a rite of passage earlier this month when for the first time it reported quarterly earnings. The financial performance of the self-described international pharmacy-led health and well-being enterprise, formed last December by the merger of Walgreens and Alliance Boots, was noteworthy, with adjusted earnings far exceeding the projections of Wall Street

WBA taps two Alliance Boots execs

DEERFIELD, Ill. — Two Alliance Boots executives were promoted in recent weeks to new positions with Walgreens Boots Alliance Inc. (WBA). George Fairweather, formerly group finance director at Alliance Boots, was named WBA executive vice president and global chief financial officer. And Marco Pagni, who was Alliance Boots’ group legal counsel and chief administrative officer,