US pharmacy chain Walgreens names Tim Wentworth as CEO
© 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) on Tuesday said it has appointed Tim Wentworth as its new chief executive and he will assume the role on Oct. 23.
Last month, Rosalind Brewer had abruptly stepped down as CEO of the company after less than three years at the top job. Brewer's departure was part of a mutually agreed decision, Walgreens had said, without providing further details, after a tenure that saw Walgreens' share price nearly halve in value as the company tried to broaden its reach as a healthcare provider."I believe WBA is well-positioned to deliver more personalized, coordinated care, and achieve better outcomes at a lower cost", Wentworth said in a statement.
Walgreens has been looking to expand beyond its core business, with acquisitions of healthcare services operator VillageMD and urgent-care provider Summit Health. In the third quarter, Walgreens reported a 0.2% fall in same-store sales at its retail division, compared with estimates of a 2.1% rise, mainly due to lower COVID testing and sluggish demand for cough and cold medicines.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other.
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