It’s been a busy six months for Walgreens CEO Tim Wentworth.
The former Cigna executive came out of retirement last October to take the helm at one of the nation’s largest retail pharmacy chains, which employs 240,000 people and operates almost 9,000 stores across the U.S., Puerto Rico and the Virgin Islands. Walgreens estimates it has a store within 5 miles of 78% of consumers.
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Wentworth walked into a difficult situation. Walgreens had just announced a $1 billion cost-cutting plan that would limit contract work, close or reduce store hours and shutter dozens of VillageMD-operated primary care clinics, in addition to laying off hundreds of corporate employees. Soon after Wentworth's arrival, the company slashed its quarterly dividend by 48%. In response, he undertook a monthslong C-suite transformation that wrapped in February and announced a sweeping strategic review of the company in March.
Wentworth was not made available for an interview. However, his former and current colleagues say his energy and no-nonsense demeanor make him the right man for the job, and his passion for hard work extends well beyond the office.
Wentworth is well-known for his efforts to shape public policy on pharmaceuticals.
“It does not surprise me that he is trying to move fast and aggressively,” said JC Scott, president and CEO of the Pharmaceutical Care Management Association, a trade group that represents pharmacy benefit managers. Wentworth served on the association’s board from 2016 to 2021 while leading PBM Express Scripts, which merged with Cigna in 2018.
He and wife Robin take pride in their early days spent at Rochester, New York's Monroe Community College and have donated millions of dollars to the school. In 2016, the couple showed off their ballroom dancing skills as competitors on Dancing with the St. Louis Stars.
“He is very authentic. He shows great vulnerability in front of people as a leader,” said Michael Hornsby, a managing director at Brimstone Consulting Group who met Wentworth about 25 years ago when he screened Wentworth for a job at PBM Medco, which he got. Hornsby and the Brimstone team worked with Wentworth at Medco, Accredo Health and Express Scripts, where their focus included developing leadership talent, another of Wentworth's passions. Hornsby said Wentworth is often the first in a room full of executives to share his story of becoming a leader.
Here's a look at what's happened since Wentworth became CEO at Walgreens.
