Summary:
Stefano Pessina, the executive chairman of Walgreens Boots Alliance, is facing challenges as his pharmaceutical empire deals with financial setbacks and the need for a new strategy.
Full Story:
Stefano Pessina, an 83-year-old Italian businessman and Monaco resident, leads one of the largest pharmaceutical empires in the world from his palatial residence in Monaco. As the executive chairman of Walgreens Boots Alliance (WBA), Pessina faces unprecedented challenges as his group grapples with a drop in the stock price, decreased profitability, and store closures. Despite this, Pessina remains committed to the success of his company and continues to pursue his vision for regional business growth. Pessina’s career began in nuclear engineering before he took over his family’s pharmaceutical distribution business in Italy. Through a series of acquisitions and mergers, Pessina transformed the company into a leading pharmaceutical distributor in the country. His partnership with Ornella Barra, his wife and a fellow entrepreneur in the pharmaceutical industry, further expanded the business. Over the years, their empire grew through strategic mergers and acquisitions, culminating in the merger of Alliance Boots and Walgreens in 2014. From their base in Monaco, Pessina and Barra manage their global operations and use the Principality as a hub for international conventions and philanthropic endeavors. Despite recent challenges, Pessina remains a formidable figure in the business world, known for his negotiation skills and ambition. With a focus on innovation and a return to regional perspectives, Pessina continues to shape the future of his pharmaceutical empire.
Source:
Monaco Tribune
