scorecardRoz Brewer will get a signing bonus worth $25 million when she joins Walgreens as its new CEO, on top of her $1.5 million salary
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Roz Brewer will get a signing bonus worth $25 million when she joins Walgreens as its new CEO, on top of her $1.5 million salary

Grace Dean   

Roz Brewer will get a signing bonus worth $25 million when she joins Walgreens as its new CEO, on top of her $1.5 million salary
Retail2 min read
  • Roz Brewer will get a signing bonus worth $24.7 million when she joins Walgreens as CEO in March.
  • She'll also get a $1.5 million annual salary and personal use of the company's private jet.
  • Brewer, who will become the only Black female CEO of a Fortune 500 company, is currently Starbucks COO.

The Walgreens Boots Alliance will give Roz Brewer a signing bonus worth nearly $25 million when she joins the company as CEO in March, and she'll also be able to use the drugstore chain's private jet for her personal use.

Brewer, current chief operating officer at Starbucks and former CEO of Sam's Club, will get a one-time bonus of $4.5 million and $20.2 million in Walgreens stock, alongside her $1.5 million annual salary, per an SEC filing from Walgreens first reported by Fox Business.

The $20.2 million one-time, long-term incentive award will be divided equally between performance shares and restricted stock units, and split over three annual instalments.

Brewer will become the only Black female CEO of a Fortune 500 company when she starts her new role on March 15.

Read more: New Walgreens chief Roz Brewer broke barriers to become the only Black female Fortune 500 CEO. Now she faces her toughest challenge yet: winning the vaccine-distribution race.

Brewer will receive a one-time "retention bonus" of $4.5 million, which she'll have to repay if she voluntarily leaves the company without "good reason" or is terminated for cause within two years.

On top of her initial base salary of $1.5 million, Brewer will be eligible for an annual bonus with a target payout of three times her eligible earnings, as well as long-term stock incentives, with a combined target award valued at $11 million annually.

She'll also be entitled to relocation benefits and up to 50 hours of personal use of the company's corporate jet each year.

Brewer is taking on the role at a critical time in the drugstore's coronavirus vaccine rollout.

Healthcare analysts told Insider that Brewer brings a fresh set of eyes and a new perspective to Walgreens, something the retailer desperately needs, and her former colleagues have praised her leadership style.

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