Deerfield, Ill.-based Walgreens Boots Alliance Executive Vice Chairman and CEO Stefano Pessina has been a leader in the pharmacy industry for 40-plus years. He claimed what helped him turn his struggling pharmacy business around was realizing a company must have a foothold in the U.S. market, Chief Executive reports.
Mr. Pessina claimed his father had given him the opportunity to manage a struggling Italian pharmaceutical wholesale business, according to the report. However, instead of solely expanding in Italy, Mr. Pessina began acquiring companies across the globe.
"By the time of Boots I had really started to cultivate the ambition of being global and to do that you must have a foot in the U.S.," Mr. Pessina told the Financial Times, according to the report.
With several notable acquisitions, including a merger with Walgreens, the company boasts a presence in 25-plus countries and employs more than 385,000 people, the report states.
The Federal Trade Commission also approved Walgreens Boots Alliance's acquisition of Camp Hill, Pa.-based Rite Aid in September. The company recently announced it plans to close 600 Walgreens stores as part of the deal.
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