The Executive Vice-Chairman and the CEO of Walgreens Boots Alliance, Stefano Pessina is an Italian-Monegasque billionaire as well as a businessman. His business interest solely rests upon drug stores and pharmaceutical industries. In 2012, he bought the company’s 45% share and became the largest shareholder of the group.
Born on 4th June 1941 in Pescara, Italy, Pessina attended the Polytechnic University of Milan and did his graduation in nuclear physics. It was in 1977, he joined his family business of pharmaceuticals and modified the business strategy and structure bringing other small pharmaceutical business and drug stores into the locality.
By 1985, Pessina’s company was renamed to Alleanza Salute Italia and had become the world’s biggest pharmaceuticals seller. However, he wanted to give his company an international height. In 1988, Pessina tapped new markets in southern Europe and made partnerships and agreements with local wholesaler drug stores.
Three years later in 1991, he entered into a collaboration with Alliance Sante and in the next six years, Sante merged with UniCame, a business based in the UK. It was under Pessina’s leadership that very soon Alliance UniCame got transformed into a major business based in the pharmaceutical sector, establishing itself over a dozen countries.
In 2006, Alliance Botts came into existent which was a merger between Boots Group PLC and Pessani’s Group. In 2012, owing to Pessina’s interest in the Chinese drug market, he bought around 12% stake in China’s 5th biggest wholesaler Nanzing pharmaceutical company ltd.
It was then the world green stepped into a partnership with Alliance boot. Presently, Pessina owns around 13200 drug store in about 11 countries and there are 3 lac and 70 worked are working overhead.
Stefano’s content knowledge on pharmaceuticals made him complete150 pharmaceutical dream with other companies. His net worth as of July 20th is around 6.8 billion. Between 2012 and 2014, Walgreens bought around 100% of its pharmacy chain creating Walgreens Boots Alliance.
Stefano Pessina, the deal maker has beautifully transformed a Naples drug wholesaler from failing into a global pharmacy kingdom. He has bought over 1500 rival companies across Europe. He served as the CEO of the company from 2001 to 2004 and later as a Deputy Chairman and then as the Chairman.
When Pessina’s company merged with Boots Group PLC in 2006, in that same year he oversaw the acquisition of Alliance Boots AB Acquisitions which was jointly backed by Stefano and the private equity firm; Kohlberg Kravis Roberts (KKR) that leads the brand’s value to new heights.
Pessina has been in the position of the Chairman from 2007 to 2014 and presently along with being the director of Walgreens Boots Alliance, he is also the director of the Consumer Goods Forum. His strategic vision has continuously incremented brand value and enhanced its position internationally. Today it stands best on the grounds of beauty industries and healthcare services.
Stefano’s methodology was to buy a stake in the company, help improve the bottom line and gain enough control to merge with or buy another one. Probably, that is why the million dollars worth company is the world’s largest buyout in the healthcare industry.