Walgreens Boots Alliance, Inc.

Walgreens Boots Alliance had named a successor to chief information officer Abhi Dhar, who announced in February his intent to resign in order to pursue an entrepreneurial venture.   The company has tapped Steve Turner, who currently serves as Walgreens VP service delivery and infrastructure, as VP and chief information officer, effective April 1.    

Walgreens Boots Alliance’s acquisition of Rite Aid is moving closer to getting a green light from the Federal Trade Commission.       The FTC is expected to approve the sale in the next two to four weeks, reported the New York Post, citing two sources close to the situation.   The major sticking point was reportedly the number of Rite Aid stores that need to be divested to Fred’s Pharmacy.      

The CEOs of Gap, Best Buy, Target Corp., J.C. Penney and several other national retailers met with President Trump on Wednesday to discuss tax reform and to make their case against the so-called border tax adjustment.  

Walgreens Boots Alliance is losing its chief merchandising and marketing officer.   Linda Filler, Walgreens' president of retail products and chief merchandising and marketing officer, will depart the retailer effective April 1. Filler has been in the role since January 1, 2015. Prior to joining the drug store chain, she was president of Claire’s Stores. Before Claire’s, Filler served as was executive VP and chief merchandising officer for Sam’s Club,   

The person charged with leading Walgreens Boots Alliance’s digital transformation, is leaving the company in March.   Abhi Dhar, who has essentially served as chief digital officer and CIO of the drugstore giant since 2015, is stepping down from the company to launch an online marketing startup for the retail sector, reported CIO.com. He will serve as CEO of the start-up.  

More than 100 retailers and trade associations, including Walgreens Boot Alliance, Rite Aid, Walmart and Target, have joined the Americans for Affordable Products coalition in an effort to stop the Border Adjustment Tax, otherwise known as BAT, which is a component of the U.S. House Republican tax reform proposal.  

Fred’s Pharmacy confirmed its agreement to purchase divested stores remains in effect following Monday’s news that Walgreens Boots Alliance and Rite Aid extended the deadline for their potential merger agreement.  

An Evercore ISI analyst maintained his “buy” rating on Walgreens Boots Alliance stock, stating that although its proposed deadline for a deal with Rite Aid has been delayed, “there is still a chance of a reasonable outcome for both parties.”   The companies pushed back the deadline for merger from Jan. 27 to July 31 and trimmed the purchase price paid to Rite Aid to $6.50 to $7 per share — based upon the number of store divestitures the FTC requires — from $9 per share.