WEBVTT - Rosalind Brewer 0:00:02.920 --> 0:00:05.760 Currently, there are only two fortunate five companies run by 0:00:05.800 --> 0:00:08.840 African American women. One of those women is Ross Brewer, 0:00:09.000 --> 0:00:12.800 who is leading Walgreen Spoots Alliance, a well known pharmacy chain. 0:00:13.119 --> 0:00:14.840 I sat down with Ros. We were to talk about 0:00:14.880 --> 0:00:17.439 how she's trying to transform that company into one that 0:00:17.480 --> 0:00:22.119 also offers additional healthcare services to its customers. I have 0:00:22.239 --> 0:00:25.239 noticed that Walgreens and another company that's also in the 0:00:25.320 --> 0:00:27.159 drug store area of I won't mention their name, but 0:00:27.360 --> 0:00:29.880 the competitor of yours, both of you seem to be 0:00:29.920 --> 0:00:32.240 interested in being in the healthcare business as opposed to 0:00:32.240 --> 0:00:35.520 the pharmaceutical drug store business. Why is that? What's what's 0:00:35.600 --> 0:00:39.080 so much better about the healthcare business? So, first of all, 0:00:39.120 --> 0:00:42.640 you know we've been Walgreens started in nineteen o one, 0:00:42.880 --> 0:00:46.320 and you know, when you think about drug dispensing, it's 0:00:46.479 --> 0:00:48.280 um it's critical to all of us at some point 0:00:48.320 --> 0:00:50.800 in our lives. But one of the things that's very 0:00:50.840 --> 0:00:54.080 clear to us um ending the pandemic, or in the 0:00:54.120 --> 0:00:57.240 middle of the pandemic, we realized our relationship with our 0:00:57.240 --> 0:00:59.880 customers and our patients was so much more critical. We 0:01:00.040 --> 0:01:03.080 delivered seventy million shots in arms during the time of 0:01:03.080 --> 0:01:06.320 the pandemic, but the relationship just went to the next level. 0:01:07.000 --> 0:01:10.920 Pharmacists have always been consultants with customers and patients, and 0:01:11.000 --> 0:01:13.120 you will see your pharmacists ten times more than you 0:01:13.160 --> 0:01:16.560 see your primary care physician. But the idea of having 0:01:16.600 --> 0:01:20.679 a primary care physician interacting with the pharmacists is the 0:01:20.720 --> 0:01:24.040 way of the future and we will we will need 0:01:24.040 --> 0:01:27.800 that ecosystem around us. Okay, So in your case, um, 0:01:27.800 --> 0:01:30.679 Walgreen's case, you have begun a business. You've bought a 0:01:30.680 --> 0:01:34.880 lot of companies in this area that are primary physician companies. 0:01:34.920 --> 0:01:38.560 In the words, you buy the practices of primary physicians, 0:01:38.600 --> 0:01:41.680 and then in effect their stockers are working for Walgreens 0:01:41.760 --> 0:01:44.000 and they are still serving their patients, but they're in 0:01:44.000 --> 0:01:47.160 effect employees of Walgreens. Is that right? That's that's correct there. 0:01:47.600 --> 0:01:50.080 So we are purchasing We just purchased Summit Health in 0:01:50.080 --> 0:01:53.520 the New Jersey, New York area and now we're one 0:01:53.560 --> 0:01:57.320 of the largest primary care physician practices in the country. 0:01:57.360 --> 0:02:00.880 So primary care physician practice. Um, what how many people 0:02:00.920 --> 0:02:04.080 in the United States of the thirty million people we 0:02:04.120 --> 0:02:06.360 have or so, how many of them actually have a 0:02:06.400 --> 0:02:10.120 primary physician? From what we understand less than thirty of 0:02:10.280 --> 0:02:14.119 Americans have a primary care physition, and you think it's 0:02:14.120 --> 0:02:16.720 good to get an annual physical every year. I know 0:02:16.760 --> 0:02:19.000 you're not a doctor, but now I'm not a doctor, 0:02:19.520 --> 0:02:21.640 but you know I will tell you that. You know, 0:02:21.720 --> 0:02:23.720 we are all going to be responsible for our health, 0:02:23.760 --> 0:02:28.519 both financially and managing our own care. And to get 0:02:28.520 --> 0:02:32.040 a physical every year is a good database for you, 0:02:32.600 --> 0:02:34.679 a baseline to build for yourself because it's going to 0:02:34.760 --> 0:02:36.480 fall back on you. You need to know more about 0:02:36.480 --> 0:02:39.600 your personal health so that you can interact effectively with 0:02:39.639 --> 0:02:41.880 your primary care physicians. So I get an annual physical 0:02:41.880 --> 0:02:43.800 every year. I try to starve myself for the two 0:02:43.840 --> 0:02:46.359 weeks before the end. Yes, I have mine tomorrow. Yes 0:02:46.520 --> 0:02:48.720 I have found it doesn't work. But okay, what do 0:02:48.760 --> 0:02:51.520 you think the biggest health care challenges for Americans? Is 0:02:51.520 --> 0:02:54.639 it that we're overweight, we take too many drugs? What 0:02:55.040 --> 0:02:58.440 is so? I think it's it's too pronged. One is that, yes, 0:02:58.520 --> 0:03:01.280 obesity is a big problem. Um, But I think it's 0:03:01.320 --> 0:03:04.600 it's negligence, but it's not intentional. I think people are 0:03:04.639 --> 0:03:07.960 confused about the cost and access of healthcare, and they 0:03:08.000 --> 0:03:10.680 think it's going to cost them a lot um and 0:03:10.720 --> 0:03:14.079 when people have variable employment, as we've seen across these 0:03:14.160 --> 0:03:16.919 last several years, is that you know, they're not quite 0:03:16.960 --> 0:03:19.880 true what their insurance will cover and and not covering 0:03:19.960 --> 0:03:23.040 what their autopockets expense will be, so they avoid going 0:03:23.080 --> 0:03:25.919 to the doctor. And I think that is something we've 0:03:25.919 --> 0:03:28.680 got to bring clarity to, which is why, you know, 0:03:28.720 --> 0:03:30.960 the digital side of healthcare is going to become very 0:03:30.960 --> 0:03:32.880 important so that we can all look at our mobile 0:03:32.919 --> 0:03:35.880 devices and understand what's going on with their bodies. COVID 0:03:35.920 --> 0:03:38.080 brought a lot of people into the drug stores to 0:03:38.080 --> 0:03:41.360 get their COVID shots. I guess has a business picked 0:03:41.400 --> 0:03:43.920 up or gone down since COVID is more or less 0:03:43.960 --> 0:03:46.520 waned a bit in terms of people getting shots. You know, 0:03:46.560 --> 0:03:50.560 what we're seeing at Walgreens is that we created, you know, 0:03:50.600 --> 0:03:54.960 an expanded relationship. Um it did start with immunizations, but 0:03:55.160 --> 0:03:58.240 now people are very deliberate about their flu shots and 0:03:58.280 --> 0:04:02.680 so they're still getting COVID shots today, vaccines today, and 0:04:02.680 --> 0:04:06.200 they're getting flu shots in combination. Our retail business, if 0:04:06.240 --> 0:04:10.160 you look at our prior earnings, is up and performing well, 0:04:10.920 --> 0:04:13.480 especially as we transition into healthcare. The front of our 0:04:13.520 --> 0:04:15.920 stores are are picking up. So I have read that 0:04:16.080 --> 0:04:19.720 post COVID it's difficult for companies like yours to get 0:04:19.839 --> 0:04:21.960 entry level of people to come in there. They either 0:04:22.000 --> 0:04:23.680 don't want to come back into the workforce or they 0:04:23.680 --> 0:04:25.479 don't want the job that you can provide them. Is 0:04:25.520 --> 0:04:27.080 it hard for you to get people? I noticed in 0:04:27.080 --> 0:04:29.919 the stores I go to the drug stores, they're always 0:04:30.040 --> 0:04:32.200 fresh people all the time, new people. Yeah, so you 0:04:32.240 --> 0:04:35.000 know there's a lot of turnover at the hourly level. 0:04:35.040 --> 0:04:38.440 I will admit um. But as we have these conversations, 0:04:38.560 --> 0:04:42.839 it's becoming less about pay and more about their lifestyle 0:04:42.920 --> 0:04:45.240 and what they want to do and progression. And so 0:04:45.360 --> 0:04:48.800 what we're encouraging is that, you know, work at at 0:04:48.839 --> 0:04:51.760 a Walgreen store and you can become a shift manager 0:04:51.800 --> 0:04:53.960 and escalate. And that's really what they want to think about, 0:04:54.080 --> 0:04:56.560 is a career and development. So if you were an 0:04:56.640 --> 0:04:59.480 entry level person at one of these stores like Walgreens, 0:04:59.720 --> 0:05:03.000 what kind of compensation you get above the minimum wage? 0:05:03.040 --> 0:05:06.240 But you pay like fifteen or something exactly exactly, and 0:05:06.279 --> 0:05:08.880 then it moves up based on you know, shift manager 0:05:08.960 --> 0:05:11.760 and other responsibilities in the in the building. So I've 0:05:11.800 --> 0:05:15.520 noticed that in none of these stores I go into 0:05:15.839 --> 0:05:19.120 there used to be younger people post college or something. 0:05:19.120 --> 0:05:23.239 Who it's the younger people working servicing the drug store. 0:05:23.360 --> 0:05:25.239 Now I see a lot of people who are older 0:05:25.640 --> 0:05:28.560 that like post retirement kind of people doing it. Is 0:05:28.600 --> 0:05:32.960 that a phenomenon? You know, we we see both. Um, 0:05:33.000 --> 0:05:35.160 you know, on the younger end of the spectrum, its 0:05:35.240 --> 0:05:38.000 those looking for development or fill in job while they're 0:05:38.000 --> 0:05:40.760 in college and doing something otherwise in their lives. And 0:05:40.760 --> 0:05:44.159 then the retirement community is a very um, you know, 0:05:44.680 --> 0:05:47.719 rich environment for us to recruit from. So I noticed 0:05:47.720 --> 0:05:49.679 in a couple of drug stores even in my area, 0:05:49.720 --> 0:05:52.320 which is not the poorest area in washing d C. 0:05:52.520 --> 0:05:56.479 It's a nice upscale area. Um, when I want to 0:05:56.480 --> 0:05:59.479 get razor blades, you have to go to the front 0:05:59.480 --> 0:06:02.160 of the place and ask somebody unlock it. Why why 0:06:02.200 --> 0:06:04.200 are you locking up razor blades and other things that 0:06:04.240 --> 0:06:07.120 I might want to buy? Yes, So, you know this 0:06:07.160 --> 0:06:10.440 is a national problem, and you know this isn't you know, 0:06:11.120 --> 0:06:14.880 random theft, This is organized crime. And you know state 0:06:15.000 --> 0:06:19.039 legislation has put guidelines on you know how much you 0:06:19.760 --> 0:06:23.600 you know the theft that you can steal before you're convicted. 0:06:23.640 --> 0:06:26.240 So it's a thousand dollar limit. But we have been 0:06:26.440 --> 0:06:29.479 partnering with other retailers and sharing our camera feed. I 0:06:29.480 --> 0:06:31.880 know some of our partners here from walmartter here, but 0:06:31.920 --> 0:06:35.159 we're all part of an organization that's coming together that says, 0:06:35.200 --> 0:06:37.400 if you've you know, we can put our camera feed 0:06:37.440 --> 0:06:39.480 together and tell that that person has been in our 0:06:39.520 --> 0:06:42.080 store in their store, and the numbers are higher than 0:06:42.160 --> 0:06:45.520 one thousand. So we've been able to impact these theft 0:06:45.600 --> 0:06:48.640 rings most recently. What are the things that are unlock 0:06:48.680 --> 0:06:50.479 and key the most? What are people trying to steal 0:06:50.480 --> 0:06:52.640 the most? Other than razor blades, like you know, I 0:06:52.640 --> 0:06:55.160 will tell you, um I actually it started at razor 0:06:55.160 --> 0:06:58.040 blades because that's such a high ticket item, but um, 0:06:58.080 --> 0:07:00.640 you know, it's a lot of cosmetics. But really what 0:07:00.760 --> 0:07:03.880 happens is that they take advantage of what I would 0:07:03.880 --> 0:07:05.719 call the elbow move and they just come in and 0:07:05.760 --> 0:07:08.440 swipe a counter. And so it's just a matter of 0:07:08.600 --> 0:07:12.720 categories now almost and not just particular. So what is 0:07:12.760 --> 0:07:15.920 the most profitable, high margin thing that you all sell. 0:07:16.040 --> 0:07:19.600 I'd have to say it's in our cosmetics area, is 0:07:19.160 --> 0:07:21.560 um is one, and then in some of our durable 0:07:21.600 --> 0:07:24.800 medical goods. Some of our take home testing and things 0:07:24.840 --> 0:07:27.800 like that are are very nice margin item. What is 0:07:27.800 --> 0:07:29.840 the most common, most frequent thing that you sell? The 0:07:29.960 --> 0:07:34.679 most frequent thing is probably toiletries like toothpaste and personal 0:07:34.720 --> 0:07:38.120 care items of those those And why is it that 0:07:38.200 --> 0:07:40.840 whenever there is like a scare coming along or a 0:07:40.840 --> 0:07:45.320 pandemic or something, people rush to buy toilet paper. Noticed 0:07:45.360 --> 0:07:49.360 that people are just are stockpiling toilet papers of hoarding, 0:07:49.720 --> 0:07:51.840 and it's one of those things you never want to 0:07:51.880 --> 0:07:56.840 be without. Okay, you're from Detroit. Your family, how many 0:07:56.840 --> 0:07:59.280 siblings do you have? If I have three sisters and 0:07:59.320 --> 0:08:02.120 a brother, okay, and you were the youngest, I'm the 0:08:02.120 --> 0:08:05.200 youngest of five okay, and any of the others running 0:08:05.400 --> 0:08:08.480 drug store change? No, But I do have a sister 0:08:08.520 --> 0:08:14.080 that's a pharmacist. Wow, she had No, she's not. We 0:08:14.120 --> 0:08:17.880 don't want to mix, ok okay, So um, all right, 0:08:17.920 --> 0:08:20.600 So you're you're one of your parents do so? Both 0:08:20.680 --> 0:08:23.560 my parents are are deceased, But my parents worked in 0:08:23.560 --> 0:08:27.480 the auto industry, and so my dad eventually worked as 0:08:27.520 --> 0:08:31.040 a member of management and my mom worked in hourly 0:08:31.160 --> 0:08:34.480 labor at Okay, so you are many good colleges you 0:08:34.480 --> 0:08:37.000 went to Spellman, an excellent college in Atlanta. Why did 0:08:37.000 --> 0:08:40.160 you choose Spellman? Well, I chose Spellman because, you know, 0:08:40.200 --> 0:08:42.520 I grew up in Michigan. I wanted to do something 0:08:42.559 --> 0:08:44.880 a little different, um, get out of the cold weather. 0:08:44.920 --> 0:08:46.920 But it was also a chance for me to be 0:08:46.960 --> 0:08:50.640 at an institution that I thought really reflected me who 0:08:50.679 --> 0:08:52.480 I was and what I wanted to do. And I 0:08:52.520 --> 0:08:55.160 think also too, I mean, I got a scholarship, and 0:08:55.200 --> 0:08:57.400 so that was helpful being at the time there were 0:08:57.400 --> 0:09:00.440 four of us in college and so um, I was 0:09:00.480 --> 0:09:03.920 actually pursuing you know, support at that time too. And 0:09:03.960 --> 0:09:05.480 what did you major and what did you want to be? 0:09:05.720 --> 0:09:09.800 I majored in chemistry, and I thought, you know, I 0:09:09.800 --> 0:09:12.679 had always been pretty decent in the math and sciences. 0:09:12.760 --> 0:09:14.760 So I just did what I knew what to do. 0:09:15.480 --> 0:09:20.200 And I thought I'd either go into medicine or engineering. Um. 0:09:20.240 --> 0:09:22.960 And actually I was recruited away by Kimberly Clark to 0:09:23.000 --> 0:09:26.920 work in long range research as a chemist. So I 0:09:26.920 --> 0:09:29.280 thought you might go to medical school, but Kimberly Clark 0:09:29.360 --> 0:09:31.920 sold you away, right, Okay, So what did you do 0:09:31.960 --> 0:09:34.520 for twenty two years at Kimberly Clark so I started 0:09:34.520 --> 0:09:37.199 off in long range research as a as a chemist. 0:09:37.240 --> 0:09:40.359 I was an organic chemist UM, and I had interned 0:09:40.840 --> 0:09:43.680 my summers at General Motors, and so I worked in 0:09:43.760 --> 0:09:46.840 chemistry there. I worked in analytical chemistry and moved into 0:09:46.960 --> 0:09:50.400 organic worked in palmer science, and then I worked in 0:09:50.720 --> 0:09:52.800 UM on one of the business as. I got a 0:09:52.880 --> 0:09:55.680 chance to join the M and a team probably about 0:09:55.720 --> 0:09:59.000 six years into my career and UM. At the time, 0:09:59.040 --> 0:10:01.880 it was when Kimberly Arc was converting itself from a 0:10:01.920 --> 0:10:06.240 paper company to consumer products company, and we acquired several 0:10:06.280 --> 0:10:08.360 companies and I got to run one of those companies, 0:10:08.360 --> 0:10:10.160 and I just stayed on the business side after that. 0:10:10.400 --> 0:10:12.560 He so you're doing that, You're there twenty two years, 0:10:12.559 --> 0:10:16.080 You're happy, presumably, and all of a sudden somebody clos 0:10:16.120 --> 0:10:18.160 you up and says, how about working for Walmart? What 0:10:18.200 --> 0:10:23.400 did you say? No? No? On the first call, I 0:10:23.440 --> 0:10:26.800 said no UM. Probably the first, second and third call, 0:10:26.880 --> 0:10:30.680 I said no. UM. You know if initially they were 0:10:30.760 --> 0:10:33.400 speaking to me about a job in human resources and 0:10:33.440 --> 0:10:36.559 I really don't have that skill set, and so UM, 0:10:36.679 --> 0:10:40.199 once an opportunity came home, came about that had P 0:10:40.360 --> 0:10:43.160 and L to it, I joined the company and I 0:10:43.160 --> 0:10:45.760 I was a group president at Kimberly Clark and I 0:10:45.800 --> 0:10:51.120 took a VP regional job to run the state of Georgia. Okay, 0:10:51.480 --> 0:10:54.160 so you're at Walmart and then somebody calls up and says, 0:10:54.160 --> 0:10:56.800 how would you like to wrong Sam's Club? Is that right? Yes? 0:10:56.880 --> 0:10:59.320 Well a lot happened in the first five years where 0:11:00.920 --> 0:11:04.160 um I ran Georgia the southeast, then the east coast 0:11:04.240 --> 0:11:07.600 of Walmart stores, and then um I was a candidate 0:11:07.600 --> 0:11:09.520 for the Sam's Club job. All right, so you're minding 0:11:09.600 --> 0:11:12.760 your business. You're running Sam's Club eventually right right there 0:11:12.800 --> 0:11:15.320 for five years? Yes, I did. Okay, so you're there 0:11:15.360 --> 0:11:17.600 for five years or the CEO. That's a pretty good job. 0:11:17.600 --> 0:11:19.880 I guess where you were you living to do that. 0:11:19.920 --> 0:11:22.959 I was in Bentonville, Arkansas. Okay, you're in Bentonville and 0:11:23.000 --> 0:11:25.080 all of a sudden, I guess another headhunter called you 0:11:25.160 --> 0:11:29.280 up and said, how would you like to go to Starbucks? Right? No, Actually, 0:11:29.400 --> 0:11:34.040 I made the decision to leave Walmart stores, and um 0:11:34.320 --> 0:11:37.400 I was on the board of Starbucks and I had 0:11:37.400 --> 0:11:41.319 taken them the board seed as I was leaving Sam's Club, 0:11:41.440 --> 0:11:45.000 and so I had a conversation attending a board meeting 0:11:45.040 --> 0:11:49.199 and Howard Charlton Kevin Johnson approached me to become the 0:11:49.280 --> 0:11:52.600 cheap operating officer. But you said you don't really drink coffee, 0:11:52.679 --> 0:11:55.800 or you didn't say that, you know. I was a 0:11:55.800 --> 0:11:59.000 tea drinker at the time, so that was interesting. UM 0:11:59.679 --> 0:12:03.840 and battle wasn't in my UM plans, but UM I did. 0:12:03.920 --> 0:12:06.440 I fell in love with the brand in the company. 0:12:06.559 --> 0:12:10.360 UM I saw a great opportunity for UM to help 0:12:10.360 --> 0:12:12.920 the company operate a little stronger. Okay, so you moved 0:12:12.960 --> 0:12:15.920 from Bentonville to Seattle and you became the chief operating 0:12:15.920 --> 0:12:20.320 officer of Starbucks. And Starbucks has become so successful because 0:12:20.360 --> 0:12:22.840 it's coffee is better than other people's coffee or what 0:12:22.960 --> 0:12:25.000 is the reason you think it's so successful. I think 0:12:25.080 --> 0:12:28.800 it's two things. I think it is definitely quality coffee. 0:12:28.920 --> 0:12:34.360 It's customized right for all drinking palettes. UM. I also 0:12:34.480 --> 0:12:38.280 think that it's their coffee practices along with the baristas 0:12:38.320 --> 0:12:41.240 in the store. I think the barista's our top notch 0:12:41.440 --> 0:12:43.840 and really interact great with the customer. What's the most 0:12:43.880 --> 0:12:46.560 popular thing that people ask for when they go to Starbucks? 0:12:46.679 --> 0:12:49.720 Is it? Oh gosh, you know, really just a simple 0:12:49.760 --> 0:12:53.199 pike um is, which is a black coffee. Um it's 0:12:53.200 --> 0:12:56.679 still very popular at Starbucks. Okay, the cod beverages are 0:12:56.720 --> 0:13:00.600 really you know, trending. So okay, so you're there, You're 0:13:00.640 --> 0:13:03.439 doing that for four years and all of a sudden, 0:13:03.480 --> 0:13:05.480 I assume my head hunter caused you again. Yeah now 0:13:05.520 --> 0:13:10.720 that was and says, uh, how would you like to 0:13:10.800 --> 0:13:14.640 run Walgrains? And you say, I'm happy at Starbucks? Or 0:13:14.720 --> 0:13:18.080 what I say. I think about it for a minute, because, 0:13:18.880 --> 0:13:22.600 um I I really I was enjoying Starbucks. Um, I 0:13:22.960 --> 0:13:26.280 you know, wanted to be there, and I didn't really 0:13:26.320 --> 0:13:29.120 think of myself, you know, coming back into that level 0:13:29.120 --> 0:13:32.719 of retail. But it was the pandemic and there were 0:13:32.760 --> 0:13:35.640 so many people dying at that point in people who 0:13:35.800 --> 0:13:40.000 were adverse to being vaccinated. And I knew for sure 0:13:40.040 --> 0:13:42.160 because I follow the science on things. You know, my 0:13:42.200 --> 0:13:46.280 background is in chemistry, and the science just screened you 0:13:46.320 --> 0:13:49.880 know that if a vaccine became available, we could curtail this. 0:13:50.080 --> 0:13:53.240 But Starbucks, you have a perfect name for that brewer, right, 0:13:53.400 --> 0:13:56.560 so ever mentioned that to you, you know, I got 0:13:56.559 --> 0:13:59.920 that all the time. You know, everything was what's brew 0:14:00.040 --> 0:14:04.000 wing and all these yes, hashtag every So what did 0:14:04.000 --> 0:14:06.120 you when you told Howard Schultz you're leaving to go 0:14:06.440 --> 0:14:09.120 to another company? What did he say? Actually, I had 0:14:09.160 --> 0:14:14.120 that conversation with Kevin first. Um, it wasn't it wasn't pleasant. Um. 0:14:15.120 --> 0:14:18.840 I think the board was a little surprised, you know, 0:14:18.960 --> 0:14:22.040 but we made it work. So do you ever go 0:14:22.120 --> 0:14:25.440 to Starbucks now every day? Every day? Okay? You ever 0:14:25.520 --> 0:14:29.280 go to Sam's Club every day? Yes? Not every day? 0:14:28.880 --> 0:14:32.920 I bulk up in loyal Okay. So now, what's the 0:14:32.920 --> 0:14:37.560 biggest surprise of being the CEO of Walgrains? You know, 0:14:37.720 --> 0:14:41.280 I think the biggest surprise to me was how complex 0:14:41.320 --> 0:14:46.800 health care is and how unfortunate it is to try 0:14:46.840 --> 0:14:50.640 and manage, you know, personal health in the health systems 0:14:50.680 --> 0:14:54.640 that we've set up in this country. And it's it's 0:14:54.680 --> 0:14:59.080 it's perplexing. I think that this marketplace is right for disruption, 0:14:59.360 --> 0:15:04.080 and I'm sort of drawn to transformation and disruption. So 0:15:04.600 --> 0:15:07.320 I became super excited about it once I began to 0:15:07.320 --> 0:15:10.080 peel back the understanding of the business. Right, So you're 0:15:10.120 --> 0:15:13.360 the CEO of a healthcare company. In effect, it does Um, 0:15:13.760 --> 0:15:17.320 you have the physicians business and you also have the 0:15:17.360 --> 0:15:20.120 pharmaceutical business. What do you do to stay healthy because 0:15:20.120 --> 0:15:21.720 you have to be a role model, right. You can't 0:15:21.760 --> 0:15:23.840 look like you're not healthy, right, So how do you 0:15:23.880 --> 0:15:26.480 have to exercise a lot? Or well? First and foremost, 0:15:26.520 --> 0:15:28.920 you know, like I said, my my health examin is 0:15:28.960 --> 0:15:31.200 tomorrow morning. I'll be heading back to Chicago to to 0:15:31.240 --> 0:15:33.280 get that done. So I take care of myself in 0:15:33.320 --> 0:15:36.760 that way. I like supplements, so you know, I take 0:15:36.800 --> 0:15:40.040 my vitamins um daily and then I will tell you 0:15:40.080 --> 0:15:41.800 that I work out three or four times a week 0:15:41.840 --> 0:15:45.360 as best I can, and so I make it a 0:15:45.360 --> 0:15:47.760 priority for you. I think about working out three or 0:15:47.800 --> 0:15:50.400 four times and I actually done. The thing I haven't 0:15:50.400 --> 0:15:53.239 solved though, is sleep and I think that's our biggest opportunity. 0:15:53.280 --> 0:15:55.400 If I get sleep down, maybe I can lay off 0:15:55.400 --> 0:15:58.280 of the supplements alone. Um, you're supposed to get eight 0:15:58.280 --> 0:16:01.320 hours of sleep at night. In a way, don't get anywhere. Okay. 0:16:01.520 --> 0:16:03.320 What would you say is the key to success and 0:16:03.520 --> 0:16:06.360 rising up the corporate world that you would advise people 0:16:06.520 --> 0:16:09.640 they should do. I really advise people as I'm mentoring 0:16:09.680 --> 0:16:13.200 them to look at these roadblocks as opportunities because you're 0:16:13.200 --> 0:16:16.360 going to have them. And I sometimes I get a 0:16:16.400 --> 0:16:19.600 little frustrated because you know, some will you know, people 0:16:19.640 --> 0:16:22.520 that I mentor believe that this is like a conveyor belt, 0:16:22.560 --> 0:16:25.400 like it's just easily going to happen, And you know, 0:16:25.480 --> 0:16:28.040 sometimes you have to look at you know, in my career, 0:16:28.080 --> 0:16:32.280 I took probably three lateral jobs and probably maybe even 0:16:32.360 --> 0:16:37.040 more uh setbacks financially, just to get the development. You know, 0:16:37.080 --> 0:16:39.400 Like I said, I left Kimberly Clark's group president and 0:16:39.440 --> 0:16:43.280 came into Walmart as a regional vice president. But you know, 0:16:43.320 --> 0:16:45.680 it was important for me to learn a new skill set, 0:16:46.040 --> 0:16:48.760 and I hope that this generation is patient enough to 0:16:48.760 --> 0:16:51.440 make those decisions. So you're finishing up your tenth year 0:16:51.520 --> 0:16:54.760 a share of Spellman's board. So what's it like to 0:16:54.760 --> 0:16:57.280 go to the college and become the chairman for ten years? 0:16:57.280 --> 0:17:01.080 And Um, what are the biggest problem that college students 0:17:01.080 --> 0:17:04.840 have at place like Spellman these days? One is affordability. Um, 0:17:04.880 --> 0:17:07.879 the cost of higher education is escalating, and so I 0:17:07.880 --> 0:17:10.760 would say that affordability is one of the issues. And 0:17:10.800 --> 0:17:13.320 then second, if I look at this point in time, 0:17:13.400 --> 0:17:16.840 right now, we have what I will call the pandemic 0:17:17.240 --> 0:17:20.800 UM teenagers attending college right now, and they had a 0:17:20.840 --> 0:17:25.680 lot of social and emotional um impacts, and so many 0:17:25.720 --> 0:17:29.160 college campuses are addressing that with increased counseling because it's 0:17:29.320 --> 0:17:32.880 it's it's real, and what will you hope ultimately your 0:17:32.960 --> 0:17:36.200 legacy to be when you retire forty years from now? 0:17:36.640 --> 0:17:39.800 You know, I hope um, that people can talk about, 0:17:40.160 --> 0:17:45.560 you know, the opportunity they had to work at Walgreens. Um, 0:17:45.600 --> 0:17:48.080 I am you know, I was that person that was 0:17:48.160 --> 0:17:50.359 low on the totem pole that needed to escalate. I 0:17:50.400 --> 0:17:53.320 hope that people can talk about what their experiences where 0:17:53.359 --> 0:17:55.440 as a as an employee. So let me ask you 0:17:55.560 --> 0:17:58.040 what it feels like to be in your situation? Is 0:17:58.080 --> 0:18:01.600 it more disappointing or surprise? Using that of all the 0:18:02.280 --> 0:18:05.200 CEOs and the Fortune five, there are only two female 0:18:05.240 --> 0:18:10.520 African American CEOs, only two you and the CEO of 0:18:10.520 --> 0:18:13.320 of of Teachers is the only other one, I think, 0:18:14.040 --> 0:18:17.280 And so are you surprised at this late date in 0:18:17.320 --> 0:18:21.320 our history, we only have to or disappointed? Well, I'm 0:18:21.359 --> 0:18:25.560 more disappointed than I am surprised. I'm not surprised because 0:18:25.560 --> 0:18:27.160 I know what it took for me to get here, 0:18:27.320 --> 0:18:29.920 and I know the trials and tribulations that I've been 0:18:29.920 --> 0:18:33.920 through and UM, you know, I'm not quite sure of 0:18:34.240 --> 0:18:36.919 a lot of people would want to withstand that, but 0:18:37.080 --> 0:18:40.920 I would tell you that the disappointing part is that, UM, 0:18:40.920 --> 0:18:44.240 this is just is totally ridiculous that there's only two 0:18:44.320 --> 0:18:46.680 of us. UM. I think you know, it's going to 0:18:46.800 --> 0:18:51.119 go beyond mentoring and sponsoring. It's it's pipeline, you know, 0:18:51.160 --> 0:18:57.560 filling the pipeline effectively getting people of different races in 0:18:58.160 --> 0:19:02.040 operating roles. UM, having the confidence that you know that 0:19:02.080 --> 0:19:04.679 they can do it, because they absolutely can. So in 0:19:04.720 --> 0:19:07.800 your career, what has been a bigger problem being a 0:19:07.840 --> 0:19:12.399 female or being African American or neither? You know, I 0:19:12.440 --> 0:19:18.560 would have to say being African American. UM. I think that, UM, 0:19:18.600 --> 0:19:23.240 it is still you know, a an issue in our 0:19:23.359 --> 0:19:26.680 environment to accept people of different races more so than 0:19:26.720 --> 0:19:29.640 it is gender. UM. I think I've seen a lot 0:19:29.680 --> 0:19:32.800 of progress with women in corporate American and I'd like 0:19:32.840 --> 0:19:35.119 to see more progress with people of color. So as 0:19:35.119 --> 0:19:37.840 we talk today, you're in Washington, d C. I presume 0:19:37.880 --> 0:19:40.280 you're here to meet with government officials to some extent. 0:19:40.880 --> 0:19:43.639 Do you find that enough uplifting experience when you do that? 0:19:46.320 --> 0:19:49.879 You know, I find I find, UM, quite a few 0:19:49.920 --> 0:19:52.359 teachable moments for both of us. You know, I try 0:19:52.400 --> 0:19:54.679 and bring the real life experience of health care to 0:19:54.800 --> 0:19:59.000 legislation so that when the right um decisions are in 0:19:59.040 --> 0:20:01.560 front of them, they make decisions. So what is the 0:20:01.560 --> 0:20:04.640 principal thing that they, let's say the drug store industry 0:20:04.640 --> 0:20:07.720 would like to have the Congress, do you know? First 0:20:07.720 --> 0:20:09.639 and foremost, you know, I would love to see our 0:20:09.640 --> 0:20:12.040 pharmacists to operate at the top of their license and 0:20:12.080 --> 0:20:15.320 so for them to pass legislation that will allow pharmacists 0:20:15.320 --> 0:20:17.679 to both test and treat so that there's not a 0:20:17.720 --> 0:20:20.320 second step. And you know, just imagine a mom who 0:20:20.320 --> 0:20:23.040 has to take a child out of school and take 0:20:23.080 --> 0:20:25.400 them to pick up a prescription, only to find out 0:20:25.440 --> 0:20:27.119 that the child is still sick and go back to 0:20:27.160 --> 0:20:29.920 the doctor. So if it's an ear infection strip through, 0:20:30.320 --> 0:20:32.200 we can do a test in the store to figure 0:20:32.240 --> 0:20:35.120 out and then pass on the prescription and in the 0:20:35.160 --> 0:20:39.440 recovery period is smoother. And every legislation that we absolutely do, yes, 0:20:40.160 --> 0:20:42.480 And do you meet people from the administration as well 0:20:42.560 --> 0:20:45.919 or I do you know? Most recently, Um, there's members 0:20:45.960 --> 0:20:49.960 of Senate that our primary care physicians and so I 0:20:50.359 --> 0:20:52.359 know who they are, so I meet with them regularly 0:20:52.400 --> 0:20:55.200 because they understand its best and help us carry them 0:20:55.520 --> 0:20:59.480 the message, you know throughout. So your competitor, principal want 0:20:59.480 --> 0:21:01.880 to she be us? I think probably the largest competitor. 0:21:01.920 --> 0:21:05.440 Some people would say, Um, if if if CBS is 0:21:05.560 --> 0:21:08.200 right here and Walgreens is right there, and I can 0:21:08.240 --> 0:21:10.359 go to either one, why should I go to Walgreens 0:21:10.480 --> 0:21:12.520 ver CVS? I could pick either one? What what? Why 0:21:12.520 --> 0:21:14.800 are you better than? So glad you asked me that question. 0:21:15.280 --> 0:21:20.840