Walgreens CEO Favors Trio of Tax Havens for $10 Billion Fortune

Feb. 21, 2020, 1:37 PM UTC

Over decades of dealmaking, Stefano Pessina turned his family’s Italian wholesale pharmaceutical business into the largest retail pharmacy in the U.S. and Europe.

Now filings show how a trio of tax havens support the significant wealth the chief executive officer of Walgreens Boots Alliance Inc. has amassed in that time.

Stefano Pessina

Pessina, who lives in Monaco, dissolved a Luxembourg company that controlled his stake in Walgreens and replaced it with a new one. He controls that entity through another based in the Cayman Islands, according to filings last month.

He owns more than 16% of the Deerfield, Illinois-based retail pharmacy, ...

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