A longtime Walgreens executive has been tapped to fill the president and CEO roles at Tivity Health three months after a leadership shakeup resulted in the resignation of Donato Tramuto and other high-ranking officers.
Richard Ashworth will take over the top position effective at the beginning of June as the Franklin-based company explores the sale of its Nutrisystem brand which Ashworth's predecessors purchased just 15 months ago for $1.4 billion. Since February, director Bob Greczyn has been interim CEO.
A pharmacist, Ashworth has held various leadership capacities at Walgreens for more than 30 years. He was promoted to the president role this February, managing 250,000 employees and overseeing all company operations. Previous to that role, he oversaw pharmacy and retail operations for the pharmacy giant.
Ashworth also served for nine months as the director of health care in a strategic partnership between United Kingdom-based Boots UK and Walgreens to create “the first global pharmacy-led, health and wellbeing enterprise.”
"Richard has significant experience navigating a rapidly changing health care landscape while serving a portfolio of large customers and individual consumers in the intensely competitive retail realm," Anthony Sanfilippo, chairman of the Tivity board, said in a press release. "We conducted a thorough search and we believe Richard is the right person to lead the Tivity Health team. Richard will leverage our core capabilities in health care and consumer-focused nutrition programs to deliver market-leading solutions that focus on profitable revenue growth.”
Tivity shares (Ticker: TVTY) were up 5 percent Thursday afternoon to about $10.18 on relatively light volume. They have lost nearly half of their value since the beginning of the year.