Walgreens names ex-Cigna executive Tim Wentworth as new CEO

Replace 11.16 PM EST: Provides data from press launch

Walgreens Boots Alliance (NASDAQ:WBA) has named former Cigna (CI) govt Tim Wentworth as its new chief govt, efficient October, 23, the pharmacy chain introduced late Tuesday.

Wentworth, the previous CEO of pharmacy advantages supervisor Specific Scripts earlier than its acquisition by Cigna (CI) in 2018, was appointed to guide CI’s Evernorth well being companies arm.

He mentioned that his information of the enterprise wants of healthcare stakeholders, comparable to insurers, would assist him lead Walgreens (WBA), the second-largest pharmacy chain within the U.S.

“The PBMs have pressured the retailers to repeatedly up their video games on service and worth, and my perception is that there’s a nice deal extra we will do to proceed to be a companion of selection,” Wentworth mentioned in an interview with The Wall Road Journal.

“I perceive intimately the challenges that payers face, having been one of many largest suppliers to payers, and have aligned complete organizations to be conscious of and revolutionary for payers in ways in which created worth for them.”

Wentworth’s appointment comes greater than a month after the abrupt departure of WBA’s former CEO, Rosalind Brewer.