{"id":71534,"date":"2023-10-11T17:17:31","date_gmt":"2023-10-11T21:17:31","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/walgreens-taps-healthcare-industry-veteran-wentworth-as-ceo\/"},"modified":"2023-10-11T17:17:34","modified_gmt":"2023-10-11T21:17:34","slug":"walgreens-taps-healthcare-industry-veteran-wentworth-as-ceo","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=71534","title":{"rendered":"Walgreens taps healthcare industry veteran Wentworth as CEO"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: Pigeons are seen resting on signage for Walgreens, owned by the Walgreens Boots Alliance, Inc., in Manhattan, New York City, U.S., November 26, 2021. REUTERS\/Andrew Kelly\/File Photo<\/span>
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(Reuters) -U.S. pharmacy chain operator Walgreens Boots Alliance (NASDAQ:) has appointed Tim Wentworth as its CEO, pinning hopes on the healthcare industry veteran to boost its lagging stock price and reverse a recent drop in profits. <\/p>\n

Wentworth, the former top boss of pharmacy benefit manager (PBM) Express Scripts before it was bought by Cigna (NYSE:), will be tasked with overseeing a push by Walgreens to diversify its healthcare services, the firm said on Tuesday.<\/p>\n

He brings nearly three decades of healthcare leadership experience to Walgreens as the company grapples with sharply lower sales from COVID vaccinations and testing, along with decreased spending by inflation-weary consumers. Its shares have lost about 40% this year. <\/p>\n

“(Wentworth’s) strong track record in healthcare services should provide a solid base for understanding much of the nuance that (Walgreens) is currently navigating,” said J.P. Morgan analyst Lisa Gill in a note. <\/p>\n

After Express Scripts, Wentworth was the CEO of Cigna’s health services unit, Evernorth, till he retired in 2021. <\/p>\n

Last month, Rosalind Brewer had abruptly stepped down as CEO of Walgreens after less than three years at the top job. The role of permanent CFO is still vacant. <\/p>\n

Brewer’s departure was part of a mutually agreed decision, Walgreens had said, without providing further details, after a tenure during which its share price nearly halved in value as the company tried to broaden its reach as a healthcare provider.<\/p>\n

Walgreens has been looking to expand beyond its core business, with acquisitions of healthcare services operator VillageMD and urgent-care provider Summit Health over the past few years.<\/p>\n

The company has been closing stores and cutting jobs to streamline its operations. CNN also reported on Friday that pharmacy employees at some U.S. Walgreens stores plan a walkout between Monday and Wednesday.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: Pigeons are seen resting on signage for Walgreens, owned by the Walgreens Boots Alliance, Inc., in Manhattan, New York City, U.S., November 26, 2021. REUTERS\/Andrew Kelly\/File Photo (Reuters) -U.S. pharmacy chain operator Walgreens Boots Alliance (NASDAQ:) has appointed Tim Wentworth as its CEO, pinning hopes on the healthcare industry veteran to […]<\/p>\n","protected":false},"author":1,"featured_media":2426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-71534","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nWalgreens taps healthcare industry veteran Wentworth as CEO | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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