Drugstore chain Walgreens Boots Alliance Inc. is set to announce Tim Wentworth as its new chief executive, according to multiple reports on Tuesday night.
A Veteran in the Industry
Wentworth, the former CEO of pharmacy-benefit manager Express Scripts, expressed his excitement about taking over the top spot at Walgreens in interviews with the Wall Street Journal and Bloomberg News.
Confirmation Yet to Come
While Walgreens did not immediately respond to requests for confirmation or further comment, sources suggest that Wentworth's appointment is imminent.
Recent Changes in Leadership
This announcement comes after the departure of Roz Brewer, who stepped down as Walgreens' CEO after a tenure of approximately two and a half years. In addition, the company experienced an unexpected exit of its chief financial officer in August.
In a separate development, some Walgreens pharmacy workers staged a walkout earlier on Tuesday to protest their working conditions. Organizers of the walkout highlighted issues such as heavy workloads and understaffing. They have threatened further walkouts at the end of the month if their concerns are not adequately addressed by management.
Walgreens stock has been struggling this year, with shares currently trading near their lowest point since 1998. Year to date, the stock has experienced a significant decline of 40%.
While challenges lie ahead for Walgreens, the appointment of Tim Wentworth as CEO brings hope for a new era in the company's leadership.