Former CVS executive named U.S. Healthcare president at Walgreens
Photo: Joe Raedle/Getty Images
Walgreens Boots Alliance has appointed former CVS executive Mary Langowski as executive vice president and president, U.S. Healthcare.
Langowski replaces current executive vice president and president, U.S. Healthcare, John Driscoll, who will transition to a senior advisory role working closely with CEO Tim Wentworth, Langowski and the U.S. Healthcare business, Walgreens said.
Langowski will lead WBA’s U.S. Healthcare segment as Walgreens expands its role in healthcare, building on its strengths in pharmacy to unlock new areas of profitable growth and bringing high-value solutions to industry players, including payers, health systems, PBMs and biopharma manufacturers, the company said.
She will report directly to Wentworth and will assume her role in March. She will be relocating to Chicago, the company said.
Langowski previously served as CEO of Solera Health, a value-based technology business serving payers and employers, since 2020.
Prior to Solera, she was executive vice president and chief strategy and corporate development officer at CVS Health.
Langowski’s decades of experience span leading payer organizations, pharmacy, retail healthcare services and providers as well as senior roles in federal and state government.
She was appointed CEO after serving as Solera Health’s independent board director.
Prior to Solera, Langowski served as executive vice president and chief strategy and corporate development officer at CVS Health, where she helped lead the organization’s evolution and execution as a healthcare company and key aspects of CVS’ acquisition of Aetna.
WHY THIS MATTERS
Wentworth announced updates to WBA’s Executive Committee as the company advances what it called a health services strategy rooted in its retail pharmacy footprint.
“Today’s announcement solidifies the leadership team that will carry WBA into its future as we look to expand our reach beyond neighborhood pharmacies into the fastest-growing areas of healthcare,” said Wentworth.
The new executive appointments will deepen the company’s healthcare expertise and position it for accelerated growth and profitability, Waglreens said.
These moves include Manmohan Mahajan, interim chief financial officer since July 2023, appointed permanent CFO. Mahajan has played an integral role in leading WBA’s growth and cost discipline efforts aimed at aligning the company’s cost structure with business performance. This includes a focused approach to increasing cash flow across the company by lowering capital expenditures and keeping the company on pace toward $1 billion in cost savings this year.
In October, amid losses, Walgreens announced $1 billion in cuts and closing unprofitable clinics.
Mahajan joined the company in 2016 and previously served as senior vice president, global controller and chief accounting officer. Prior to joining the WBA, Mahajan served in positions of increasing responsibility with GE Capital, a former subsidiary of General Electric Company.
Elizabeth Burger joins WBA as chief human resources officer (CHRO). Prior to joining WBA, Burger served as senior vice president, CHRO at Flowserve, a leading provider of flow control products and services for the global infrastructure markets. She formerly served as CHRO with Hanesbrands Inc., among the world’s largest manufacturers and marketers of everyday basic apparel. She also previously worked at Monsanto Company in various roles of increasing responsibility, including senior vice president of global business operations.
Langowski, Mahajan and Burger will report directly to Wentworth and join WBA’s current Executive Committee. Six Executive Committee members will assume their roles in March and will be based in the Chicago area.
THE LARGER TREND
WBA employs more than 330,000 people and has a presence in eight countries through its portfolio of consumer brands: Walgreens, Boots, Duane Reade, the No7 Beauty Company and Benavides in Mexico. Additionally, WBA has a portfolio of healthcare-focused investments located in several countries, including China and the United States.
In October, after announcing earnings losses, the company said it would plan cost reductions of at least $1 billion and lower capital expenditures by approximately $600 million in 2024.
Financial challenges in the coming year include lower volumes of COVID-19 vaccinations and testing and shifting consumer spending patterns, the company said.
Email the writer: SMorse@himss.org