Hello, Memo readers!
If you’re looking to go toe-to-toe with Amazon, what will set you apart? For Walgreens Boots Alliance CEO Tim Wentworth, it’s a human experience that’s actually, well, human.
“We will beat Amazon because of the human interface that we offer communities and neighborhoods,” Wentworth said during an appearance last week on CNBC.
Days before his comments, Amazon had said it would expand its same-day pharmacy delivery service to New York and the greater Los Angeles area.
Sure, fast delivery from Amazon and other companies such as Instacart have encouraged Walgreens to deliver 80% of its online orders within one hour, Wentworth said, but the differentiating point for Walgreens will be that people will interact with other people when they’re picking up their meds. Read what else Wentworth said about humanness in the era of AI.
One big number: $26.5 million
That’s the amount to which Ford CEO Jim Farley’s pay ballooned last year, up 26% year over year.
The majority of his compensation came from stock awards, while Farley’s base salary remained unchanged at $1.7 million.
Farley isn’t alone in raking in more executive pay — compensation packages for public company CEOs are skyrocketing, with median pay for S&P 500 company executives reaching $15.6 million in 2023. And at least at Ford, that’s upsetting workers.
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Send questions, comments, and CEO compensation suggestions to [email protected]. This edition of The Memo was written by Francisco Velasquez, Will Gavin, and Morgan Haefner.