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Stefano Pessina

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Stefano Pessina
Pessina in 2010
Born (1941-06-04) 4 June 1941 (age 83)
Pescara, Kingdom of Italy
EducationPolytechnic University of Milan (BS)
TitleExecutive chairman of Walgreens Boots Alliance
Term2021–present
Spouses
Children2

Stefano Pessina (born 4 June 1941[1]) is an Italian-Monegasque billionaire businessman; he is the executive chairman and largest single shareholder of Walgreens Boots Alliance.[2][3]

Early life

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Pessina was born in Pescara and grew up between Milan, Como, and Naples.[4][5] He graduated from the Polytechnic University of Milan in nuclear engineering before starting his career in academia and later joining market research firm ACNielsen in Milan. He wanted to be a nuclear physicist but was discouraged by the tumultuous political climate of 1970s.[2][6][7]

Career

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In 1977, Pessina took over his family's pharmaceutical wholesaler (possibly Petrone Group) in Naples, and turned it into Alliance Santé, a Franco-Italian pharmaceutical wholesale group.[8] In 1997, it merged with Alliance UniChem.[2][8] From 2001 to 2004, he served as its CEO.[8] He served as deputy chairman, and later as chairman. The company merged with Boots Group PLC in 2006 and was taken private in July 2007.[8][2] Pessina was chairman of Alliance Boots from 2007 to 2014, and serves as Executive Chairman of Walgreens Boots Alliance (WBA).[2] He is a director of the Consumer Goods Forum.[2][9] In July 2020, it was announced that Pessina would step down as CEO of WBA to take a less hands on role and replace Jim Skinner as executive chairman.[10]

2015 United Kingdom general election comments

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In a 31 January 2015 interview for The Sunday Telegraph, Pessina commented on the prospect of Britain's Labour Party winning the 2015 United Kingdom general election in May.[11] He said: "If they acted as they speak, it would be a catastrophe ... The problem is would they act that way or not? One thing is to threaten and to shout but it is completely different to be in charge and to manage the country day-to-day." He described Labour's business policies as "not helpful for business, not helpful for the country and in the end it probably won't be helpful for them".[12] The Sunday Telegraph commented that Pessina "declined to elaborate on which specific policies he disliked".[12]

Labour Party figures criticized Pessina's comments.[13] On 1 February, Labour Party's shadow Business Secretary Chuka Umunna responded in The Independent. He said: "The British people and British businesses will draw their own conclusions when those who don't live here, don't pay tax in this country and lead firms that reportedly avoid making a fair contribution in what they pay purport to know what is in Britain’s best interest."[14] On 2 February, in a live Q&A session with Sky News, the Labour Party leader Ed Miliband said: "The chairman of Boots lives in Monaco and doesn't pay British taxes ... I don't think people should take kindly to being told how to vote by someone who avoids paying his taxes."[15]

On 2 February, Walgreens Boots Alliance stated: "The comments made by Stefano Pessina were a small part of a much larger conversation and have been taken out of context ... Stefano Pessina was expressing his personal views only and is not campaigning against Ed Miliband or the Labour Party."[16] On 6 February, Allister Heath, deputy editor of The Telegraph, described what he called the attacks by Labour and Liberal Democrats politicians on Pessina, who he said was "one of the world's greatest entrepreneurs", as being "as nonsensical as they were indefensible".[17]

Personal life

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Pessina is married to Ornella Barra; she is chief operating officer, international of Walgreens Boots Alliance.[18][19] Pessina was previously married to and divorced from Barbara, and has two adult children.[1][20] According to Bloomberg Billionaires Index, Pessina's net worth was estimated at US$6.7 billion as of October 2024.[21]

Awards and honours

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References

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  1. ^ a b Shah, Oliver (18 November 2012). "Work is the drug that keeps Boots billionaire on song". The Sunday Times.
  2. ^ a b c d e f "About Stefano Pessina". Stefanopessina.com. Retrieved 28 August 2018.
  3. ^ "Walgreens Boots Alliance | Walgreens Boots Alliance". www.walgreensbootsalliance.com. Archived from the original on 28 March 2014.
  4. ^ "Stefano PESSINA". Companies House. Retrieved 23 January 2017.
  5. ^ Hooper, John (17 March 2007). "The secretive world of the Italian tycoon who is stalking Boots". The Guardian. Guardian News and Media Limited. Retrieved 2 January 2014.
  6. ^ Sideri Massimo, Pessina, signore delle farmacie che tenta la scalata in Europa, Corriere della Sera, 1 February 2014
  7. ^ Vandevelde, Mark; Crow, David. "Stefano Pessina: the dealmaker eyeing the world's largest buyout". Financial Times. Retrieved 8 November 2019.
  8. ^ a b c d "Stefano Pessina". Archived from the original on 28 March 2014. Retrieved 23 April 2014.
  9. ^ "History of The Consumer Goods Forum". Theconsumergoodsforum.com. Archived from the original on 31 August 2012. Retrieved 19 January 2016.
  10. ^ Gray, Alistair (27 July 2020). "Walgreens chief Stefano Pessina to step down". Financial Times. Retrieved 8 October 2020.
  11. ^ "100 business chiefs: Labour threatens Britain's recovery". www.telegraph.co.uk. April 2015. Retrieved 29 March 2023.
  12. ^ a b Ruddick, Graham (31 January 2015). "Labour government will be catastrophic for Britain, warns Boots boss". The Sunday Telegraph. Retrieved 16 February 2015.
  13. ^ "Labour attack Stefano Pessina after he says Ed Miliband would be a 'catastrophe' for Britain". www.telegraph.co.uk. February 2015. Retrieved 29 March 2023.
  14. ^ Bawden, Tom (1 February 2015). "Boots boss Stefano Pessina (who lives in Monaco) branded a 'disgrace' for attack on Ed Miliband". The Independent. Archived from the original on 24 May 2022. Retrieved 16 February 2015.
  15. ^ "SUBC: Miliband Attacks Boots Boss Over Tax". Sky News. 1 February 2015. Retrieved 16 February 2015.
  16. ^ Grice, Andrew (2 February 2015). "Ed Miliband: 'Boots boss Stefano Pessina should pay his taxes'". The Independent. Archived from the original on 24 May 2022. Retrieved 16 February 2015.
  17. ^ Heath, Allister (6 February 2015). "These attacks against Stefano Pessina are unfair and must end". The Telegraph. Retrieved 16 February 2015.
  18. ^ Chambers, Sam (27 July 2024). "What's next for Boots, by its bosses". The Sunday Times. Archived from the original on 27 July 2024.
  19. ^ "Ornella Barra". 10 January 2020.
  20. ^ "Ornella Barra dalla Liguria all'impero globale delle farmacie". Repubblica.it. 20 June 2016. Retrieved 17 May 2019.
  21. ^ "Bloomberg Billionaires Index: Stefano Pessina". Retrieved 15 October 2024.
  22. ^ "Decorazioni a Monaco". Royal Monaco.
  23. ^ "NIAF 41st Anniversary Gala Review". National Italian American Foundation.
  24. ^ "Golden Plate Awardees of the American Academy of Achievement". www.achievement.org. American Academy of Achievement.
  25. ^ "2017 Summit Highlights Photo: Council member General David H. Petraeus, USA presents the Academy of Achievement's Golden Plate Award to the CEO of Walgreens Boots Alliance, Stefano Pessina, during a ceremony at Claridge's Hotel in Mayfair, London". American Academy of Achievement.
  26. ^ "2018 Hall of Fame Inductees". World Retail Congress.
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