Pessina: CEO of Walgreens Alliance Boots July 9, 2015 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 [...]
Eight years after the collapse of Lehman Brothers, FutureBrand’s Tom Adams says that perceptions of banks’ brands are improving September 19, 2016 Eight years after the collapse of Lehman Brothers, FutureBrand’s global head of strategy Tom Adams reflects on how the public perceives financial services organisations. In 2014, when his global brand consultancy first began polling professionals in 17 countries to see how they perceived the firms in PwC’s list of global top 100 companies by market capitalisation, [...]
Before the bell: What you need to know before the US market open July 5, 2016 The Bank of England has slashed its capital requirements for UK banks, the pound is at a new 31 year low, and Australia's central bank has held interest rates unchanged at 1.75 per cent. Here's what you need to know before the US open at 2.30pm London time. US futures are pointing south after coming back from [...]
Before the bell: What you need to know before the US market open July 6, 2016 Sterling and bond yields continue to slide, though gold has been labelled as the go-to investment for the rest of the year. Here's what you need to know before the US market opens at 2:30pm London time. US stock futures are not looking good ahead of the open. The S&P is down by 0.62 per cent, the Nasdaq is [...]
Boots to cut up to 350 jobs as part of plans to simplify chemist business February 1, 2016 Boots is to cut between 300 and 350 managerial roles from its UK stores as part of a wider move to simplify the business. The chemist, which was bought by Walgreens in 2014, has started consultation with its assistant store managers in the larger stores across the country. Although it admitted some of the job cuts would come [...]
Boots owner Walgreens reports a massive 33 per cent profit rise April 9, 2015 The owner of Boots the chemist yesterday reported a massive 33 per cent rise in profits rise in the first update since a £6bn mega-merger last year between US retailer Walgreens and the British high street icon was completed last year. Walgreens Boots Alliance reported profits of $1.2bn (£0.8bn) for the three months to the [...]
Walgreen’s chief Greg Wasson to retire after Alliance Boots mega-merger December 10, 2014 US drugstore chain operator Walgreen has said its chief executive Greg Wasson will retire after the completion of its pending takeover of Alliance Boots, owner of the UK high street pharmacy Boots. Stefano Pessina, executive chairman of Alliance Boots, will serve as acting chief executive after Wasson steps down. “With the creation of Walgreens Boots [...]
High street chemist Boots to cut 700 head office jobs to make it “fit for the future” June 8, 2015 High street chemist Boots will cut as many as 700 non-store roles as part of a major restructure to turn the business around. Around half of the job cuts will take place at the retailer's Nottingham head office, while the rest will be among its field teams across the UK, industry bible Retail Week [...]
EU referendum: Asda, HSBC, Vodafone and nearly 200 sign letter saying Brexit would threaten jobs – but Tesco, Morrisons and Sainsbury’s are not on the list February 23, 2016 The bosses of HSBC, BT, Vodafone and Asda are among those to have put their name to an open letter backing the remain camp and Prime Minister David Cameron's reforms in Europe. More than a third of the UK's biggest companies were represented in the letter, which was published in The Times this morning, saying they represented [...]
Boots purchase blots Walgreen’s balance sheet but sales rocket September 30, 2014 American drugstore giant Walgreens yesterday reported a $239m (£147m) fourth-quarter loss caused, mainly, by a huge accounting charge from its purchase of British high street chemists Alliance Boots. The bottom line in the reported quarter was impacted by an $866m non-cash loss on the amendment and exercise of the company’s Alliance Boots call option. However, [...]