(Bloomberg) -- Walgreens Boots Alliance Inc.’s chief medical officer is leaving, after new Chief Executive Officer Tim Wentworth announced hundreds of corporate job cuts. 

Kevin Ban, who was hired in 2020, will leave Nov. 10,  according to a memo to employees seen by Bloomberg News. Chief Clinical Officer Sashi Moodley will succeed him, according to people familiar with the situation. Luke Sauter, chief of staff to the CEO, is also departing, the memo said. 

The company is also cutting about 5% of its corporate workforce, or 267 roles, according to a separate memo viewed by Bloomberg. 

A spokesperson for Walgreens confirmed the departures, but wouldn’t comment on other details. Ban had been promoted just last year. News of the 267 layoffs was first reported by Crain’s Chicago Business. 

The moves are part of a $1 billion cost-cutting plan to reset Walgreens’ growth strategy. Last month the company announced that it was taking a hard look at all projects and stopping those that aren’t essential. The retail pharmacy is altering store hours and closing unprofitable locations.

Despite the efforts “costs are not aligned with the performance of the business,” Wentworth said in a Wednesday memo.

A series of executives departed the company before Wentworth joined. Before he took over, the retail pharmacy had suffered years of stock and revenue declines, as previous CEOs struggled to move away from retail and into health care. 

None of the cuts will be in stores, microfulfillment centers, or call centers, the memo said.

Ban and Sauter didn’t immediately respond to messages seeking comment. Prior to joining Walgreens, Ban was the CMO of Athenahealth.

(Updates with information on new chief medical officer in second paragraph.)

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