Tim Wentworth
Tim Wentworth | |
|---|---|
| CEO of Walgreens Boots Alliance | |
| Assumed office October 2023 | |
| Preceded by | Rosalind Brewer |
| Personal details | |
| Born | 1959 or 1960 (age 63–64) |
| Spouse | Robin Wentworth |
| Children | 3 |
| Education | Monroe Community College Cornell University (BS) |
Timothy C. Wentworth (born 1959/1960)[1] is an American businessman[2] and CEO of pharmacy operator Walgreens Boots Alliance. He is a former CEO of Evernorth,[3] Cigna's health services platform[4] and a former CEO of Express Scripts,[5] the United States' largest pharmacy benefit manager.[6][7][8]
Education
[edit]Wentworth graduated from Monroe Community College[9] with an associate degree in business.[10] During his time at Monroe, he received a scholarship from Kodak.[11] Wentworth later earned a bachelor's degree in Industrial and Labor Relations from Cornell University's Industrial and Labor Relations School.[10][12] He later received an honorary doctorate degree from the State University of New York.[13]
Career
[edit]Wentworth began his career in the music industry, spending three years at RCA Records.[14] He then held human resources management positions at PepsiCo[10] before joining Mary Kay. During his five years at Mary Kay, he was senior vice president of human resources and then president, international.[10] In 1998, Wentworth joined Merck - Medco as senior vice president, account management.[15] He was subsequently promoted to executive vice president account service and strategy as part of Medco's 2003 spin-off from Merck.[15] Wentworth was CEO and president of Accredo, Medco's specialty pharmacy.[10]
In April 2012, Express Scripts acquired Medco for $29.1 billion. As part of the merger, Wentworth, then senior vice president of sales and account management, joined Express Scripts.[10][16][17] He was head of sales and account management operation and senior vice president before he was named president of the company in January 2014.[18] In September 2015, Wentworth was named CEO of Express Scripts.[10] Previous CEO George Paz became the company's chairman.[19]
In 2015, Express Scripts was ranked number 66 on Forbes magazine's list of the World's Most Innovative Companies.[20] By 2017, Express Scripts was the 22nd-largest company in the United States by total revenue as well as the largest pharmacy benefit management (PBM) organization in the US.[21]
In March 2018, it was announced that Cigna, a global health services company, would acquire Express scripts for $67 billion.[22] After the merger of Express Scripts with Cigna in December 2018, Wentworth became the president of both companies.[23]
In September 2020, Cigna launched Evernorth, its health services portfolio, with Wentworth as CEO.[4] In September 2021, Wentworth announced that he would retire from Cigna the following December.[3]
In October 2023, Wentworth was appointed CEO of U.S. pharmacy chain operator Walgreens Boots Alliance.[24]
Philanthropy
[edit]The Wentworths established a scholarship fund at Monroe Community College (MCC) for business and music majors and gave the school a Steinway piano in 2009.[25]
In 2010, they established the Wentworth Family Endowed Scholarship at the University of Rochester, the school two of their three children attended, which supports students transferring from community or junior colleges.[9][12] In 2012, after a $1 million donation to the school, the Wentworth Atrium in the Raymond F. LeChase hall of the University of Rochester's Warner School of Education was named for the Wentworths.[9][12] The couple are members of the George Eastman Circle, the University of Rochester's giving society, as well as the University's Parents Council. They also serve as co-chairs of the Parents Initiative for the Meliora Challenge.[9] In May 2013, Wentworth was named to the University of Rochester Board of Trustees.[26]
In November 2013, the Wentworths gave MCC $2.25 million which would be processed through the Monroe Community College Foundation and award full scholarships to 40 MCC students annually. This was the largest single donation in MCC's history at the time.[11][25] They also donated $3 million to the University of Rochester's Institute of Data Science in 2015.[9]
In 2018, Monroe Community College announced a $50 million scholarship fund, which was led off with a $4 million donation from the Wentworth family.[27] In 2019, the Wentworths committed $2.5 million to endow a professorship and a scholarship at the University of Rochester’s Eastman School of Music.[28] The Robin and Tim Wentworth Professorship in Piano will support and recognize a dedicated faculty member, while the Wentworth Family Scholarship will benefit deserving students.[28]
In 2021, Tim and Robin Wentworth were announced as co-chairs of the Eastman School of Music’s centennial fundraising campaign, which seeks to raise a total of $100 million to ensure the school’s second century of excellence.[29]
In March 2022, Cornell University’s ILR School announced that Mr. Wentworth and his wife Robin had made a $1 million gift that will be used to establish the ILR Workplace Inclusion and Diversity Education program.[30] The program, known as ILR WIDE, will be directed by Vice Provost for Undergraduate Education Lisa Nishii, an ILR professor who is one of the nation’s foremost scholars on organizational inclusion. ILR WIDE will seek to help promote workplace inclusion and study approaches that foster a culture of inclusive leadership through empathy and dialogue-based interventions.[citation needed]
References
[edit]- ^ "Timothy C. Wentworth: Executive Profile & Biography - Bloomberg". www.bloomberg.com. Retrieved November 14, 2017.
- ^ Duff Wilson (November 29, 2011). "Facing Generic Lipitor Rivals, Pfizer Battles to Protect Its Cash Cow". The New York Times. Retrieved May 31, 2017.
- ^ a b "Evernorth CEO Wentworth to retire, Palmer tapped as successor". FierceHealthcare. Retrieved December 16, 2021.
- ^ a b "Cigna Launches Evernorth To Accelerate Delivery Of Innovative And Flexible Health Service Solutions". Cigna Newsroom. Retrieved December 16, 2021.
- ^ "Meet the Newest CEOs of the Fortune 500". Fortune. Retrieved June 7, 2018.
- ^ Matthew J. Belvedere (February 6, 2017). "Express Scripts CEO sees an affordable Obamacare replacement as possible". CNBC. Retrieved May 20, 2020.
- ^ "Affordable Obamacare alternative possible, Express Scripts CEO says". St. Louis Business Journal. February 7, 2017. Retrieved May 31, 2017.
- ^ "Express Scripts CEO Tim Wentworth defends role of PBMs in drug prices". CBS News. February 7, 2017. Retrieved May 31, 2017.
- ^ a b c d e "Robin and Tim Wentworth make $3 million commitment to endow directorship of Institute for Data Science". University of Rochester. February 5, 2015. Retrieved May 31, 2017.
- ^ a b c d e f g "Express Scripts (ESRX) Names Tim Wentworth as CEO". Street Insider. September 9, 2015. Retrieved May 31, 2017.
- ^ a b "MCC gets largest gift in its history". Democrat & Chronicle. November 14, 2013. Retrieved May 31, 2017.
- ^ a b c "LeChase Hall at the University of Rochester to Feature Wentworth Atrium". University of Rochester. November 7, 2012. Retrieved May 31, 2017.
- ^ "Tim Wentworth | PCMA". PCMA | Pharmaceutical Care Management Association. August 9, 2016. Retrieved December 17, 2021.
- ^ "You searched for wentworth". Technology Partners. Retrieved December 16, 2021.
- ^ a b "Information Statement". www.sec.gov. Retrieved December 17, 2021.
- ^ Robert Langreth (September 9, 2015). "Express Script's Wentworth to Take CEO Role as Paz Retires". Bloomberg. Retrieved May 31, 2017.
- ^ "Three Medco execs headed to Express Scripts, St. Louis". St. Louis Business Journal. April 2, 2012. Retrieved May 31, 2017.
- ^ Jim Doyle (January 28, 2014). "Tim Wentworth named president of Express Scripts". St. Louis Post-Dispatch. Retrieved May 31, 2017.
- ^ Angela Mueller (May 4, 2016). "It's official: Wentworth is CEO of Express Scripts". St. Louis Business Journal. Retrieved May 31, 2017.
- ^ "A Portfolio Perspective on Fortune Magazine's "World's Most Admired" Companies". Journal of Accounting and Finance. 19 (5). September 12, 2019. doi:10.33423/jaf.v19i5.2250. ISSN 2158-3625. S2CID 243107503.
- ^ "Express Scripts Holding (ESRX) Stock Price, Financials and News | Fortune 500". June 2, 2017. Archived from the original on June 2, 2017. Retrieved December 16, 2021.
- ^ "Cigna to Acquire Express Scripts for $67 Billion". www.businesswire.com. March 8, 2018. Retrieved December 16, 2021.
- ^ "Express Scripts, Cigna finalize $54 billion merger". St. Louis Business Journal.
- ^ Coombs, Bertha (October 11, 2023). "Walgreens names veteran health-care executive Tim Wentworth as next CEO". CNBC. Retrieved October 11, 2023.
- ^ a b "MCC receives historic $2.25 million gift from alumni". Brighton-Pittsford Post. November 14, 2013. Retrieved May 31, 2017.
- ^ "University of Rochester Board Elects Three Trustees". University of Rochester. May 29, 2013. Retrieved May 31, 2017.
- ^ "MCC gets largest donation in school history, launches scholarship campaign". Democrat & Chronicle.
- ^ a b "Robin and Tim Wentworth Make $2.5 Million Commitment to Endow a Professorship and Scholarship at the Eastman School of Music". Advancement. November 17, 2019. Retrieved December 16, 2021.
- ^ "Eastman Launches Campaign to Honor its 100-year History and Celebrate the Century to Come". Eastman School of Music. April 29, 2021. Retrieved December 16, 2021.
- ^ "ILR creates workplace inclusion, diversity education program". Cornell Chronicle. Retrieved March 23, 2022.