CVS Health has named the management team that will lead the company when it combines with insurance and health-related services provider Aetna.
The team will take the reins after the close of the Aetna acquisition. The parties expect the transaction to close in the second half of 2018, subject to required regulatory approvals.
Aetna will operate as a stand-alone business unit within CVS Health following the close, led by members of their current management team. Members of both the Aetna and CVS Health management teams will play roles in the newly combined company:
- Jon Roberts will continue to serve as evp and COO for CVS Health with operational oversight for CVS Pharmacy, CVS Caremark and the Omnicare operation.
- Karen Lynch, currently president of Aetna, will serve as evp/CVS Health and president of the Aetna business unit.
- Fran Soistman will continue to serve as evp and head of government services for Aetna, leading the Medicare, Medicaid and Federal Plans businesses reporting to Lynch.
- Alan Lotvin, M.D., currently evp of specialty pharmacy for CVS Caremark, has been named evp/transformation with oversight over initiatives to establish the combined company.
- Richard di Benedetto will continue to serve in his current position of president of Aetna International.
- Shawn Guertin, currently evp, CFO and chief enterprise risk officer for Aetna, will assume the position of evp and CFO for CVS Health with oversight for investor relations, financial planning and analysis for the lines of business, tax and treasury functions as well as accounting.
- Thomas Moriarty will continue to serve as evp/chief policy and external affairs officer and general counsel for CVS Health, with responsibilities covering government affairs, corporate communications and legal.
- Troyen Brennan, M.D., M.P.H. will continue to serve as evp and chief medical officer for CVS Health with oversight for clinical and medical affairs and health care services.
- Rick Jelinek, currently evp, head of enterprise strategy for Aetna, will become evp/CVS Health and continue to co-lead the combined company’s integration efforts alongside Josh Flum, evp/enterprise strategy and corporate development for CVS Health.
- Lisa Bisaccia will continue as evp and chief human resources officer, leading the human resources organization and providing strategic oversight for the combined company’s corporate social responsibility and philanthropic activities.
In addition, as part of the transition, several executives from both CVS Health and Aetna will depart including David Denton, currently CVS Health CFO. Aetna executives Steven Kelmar, evp/corporate affairs, Thomas Sabatino, Jr., evp and general counsel, and Thomas Weidenkopf, evp and chief human resources officer, will leave their positions when the acquisition closes.
“We’re very excited to be taking this milestone step in the journey to combine our two great companies,” said Larry Merlo, CVS Health president and CEO. “The talent of both organizations is reflected in the management team that we are naming today and that will report to me as of the close of the transaction. I look forward to working alongside this outstanding group of individuals as we take on the task of transforming the way health care is delivered in America, engaging consumers with the care they need, when and where they need it, and making the patient and caregiver experience simpler and more affordable.”