Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Mr. Stefano Pessina, the Executive Vice Chairman and Chief Executive Officer of
Walgreens Boots Alliance, Inc. (the "Company") has informed the Company of his
decision to step down from the role of Chief Executive Officer of the Company.
As a result, the Company will commence a search for a successor to Mr. Pessina
as Chief Executive Officer, with Mr. Pessina continuing to serve as Executive
Vice Chairman and Chief Executive Officer until a new Chief Executive Officer
takes office.
Mr. James A. Skinner, the Company's Executive Chairman of the Board, also has
informed the Company of his decision to step down from that role when a new
Chief Executive Officer takes office, while remaining on the Board to provide
continuity to the Board during the management transition.
When the new Chief Executive Officer takes office, the Board will appoint
Mr. Pessina on an annual basis (subject to applicable law, including fiduciary
duties) as Executive Chairman, provided that Mr. Pessina is a member of the
Board of the Company at the time (and upon his initial appointment as Executive
Chairman, Mr. Pessina would resign as Executive Vice Chairman).
The Company and Mr. Pessina have entered into a letter agreement with respect to
certain of these matters and the foregoing description is qualified in its
entirety by reference to the full text of the letter agreement, which is
attached hereto as Exhibit 10.1.
Item 7.01. Regulation FD Disclosure.
The Company issued a press release on July 27, 2020 announcing the leadership
transition described in Item 5.02 above, which is furnished as Exhibit 99.1 to
this report.
The information in this Item 7.01 and Exhibit 99.1 shall not be deemed "filed"
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), or otherwise subject to the liabilities of that section.
This information shall not be deemed to be incorporated by reference in any
filing under the Securities Act of 1933, as amended, or the Exchange Act, except
as shall be expressly set forth by specific reference to such disclosure in this
Form 8-K in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit Description
10.1 Letter Agreement between Stefano Pessina and Walgreens Boots
Alliance, Inc., dated July 23, 2020
99.1 Press Release of Walgreens Boots Alliance, Inc. dated July 27, 2020
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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