Drugstore chain Walgreens Boots Alliance Inc. named Tim Wentworth as its new chief executive Tuesday night.
Wentworth — the former CEO of pharmacy-benefits manager Express Scripts — first announced the news in interviews with the Wall Street Journal and Bloomberg News.
In statement Tuesday night, Walgreens
WBA,
confirmed his appointment, effective Oct. 23. Wentworth will also join Walgreens’ board of directors.
“He is an accomplished and respected leader with profound expertise in the payer and pharmacy space as well as supply chain, IT and human resources,” Walgreens Executive Chairman Stefano Pessina said in a statement. “We are confident he is the right person to lead WBA’s next phase of growth into a customer-centric healthcare company.”
After selling Express Scripts to Cigna Group
CI,
Wentworth led that company’s Evernorth health-services organization.
“I’ve spent my career working to improve the health of the patients we’ve served,” Wentworth said in a statement. “I believe WBA is well-positioned to deliver more personalized, coordinated care, and achieve better outcomes at a lower cost.”
In September, Roz Brewer stepped down as Walgreens’ CEO after about two and a half years. That followed the surprise departure of the company’s chief financial officer in August.
Earlier Tuesday, some Walgreens pharmacy workers walked off the job to protest their working conditions. The organizer of the walkout told the Associated Press that employees were overworked and short-staffed, and threatened more walkouts at the end of the month if their complaints are not addressed by management.
Walgreens stock is trading near its lowest point since 1998, and has plunged 40% year to date.