St. Louis-based Express Scripts, the largest pharmacy benefits management company in the U.S., said Wednesday that George Paz will retire as its CEO in May.
Tim Wentworth, who was named president of Express Scripts in February 2014, will replace Paz as CEO. Paz will remain chairman of the company.
Paz, 60, has been CEO for 11 years and oversaw its $29.1 billion acquisition of former competitor Medco in April 2012. Wentworth, 55, was the CEO of Medco's specialty pharmacy business before the merger.
Express Scripts handles prescription drug benefits for some 85 million people and manages one billion prescriptions a year. The company employs about 30,000 people.