Former Cigna Group executive Tim Wentworth may be in line for the top job at Walgreens Boots Alliance.
Wentworth, who announced his retirement from Cigna in September 2021, is a contender to succeed former CEO Rosalind Brewer, according to a report by Bloomberg News, citing sources familiar with the matter.
Brewer and the company parted ways, by mutual agreement, at the end of August. On an interim basis, the company is being led by lead independent director Ginger Graham.
Walgreens declined to comment.
In his former role leading pharmacy benefits manager Express Scripts, a major pharmacy benefits manager, Wentworth led the company’s $53 billion merger with Cigna in 2018 and went on to serve as CEO of Cigna’s Evernorth Health Services segment.
Wentworth's non-compete agreement with the company is set to expire in February.
In her two-and-a-half year tenure at Walgreens, Brewer directed the company to invest $5.2 billion to take a majority stake in VillageMD, acquire urgent-care provider Summit Health-CityMD for $8.9 billion and build hundreds of primary care centers in storefronts nationwide.
Despite the growth, Walgreens has continued to face mounting financial challenges and pressures from industry competition, including Amazon, Walmart and CVS Health.
In June, Walgreens reported an adjusted operating loss of $172 million for U.S. healthcare operations in its fiscal third quarter, bringing its year-to-date operating loss to $483 million.
The company has sold off its remaining stake in Option Care Health, a home infusion company, and has plans to reduce its store footprint and cut 10% of its corporate workforce in order to save money.