CVS Health beat a Wall Street estimate for third quarter income as its Retail/LTC division sales gained. The company’s board of directors has also appointed Karen Lynch, currently evp/CVS Health and president, Aetna, as the company’s next president and CEO as well as a member of the board.
CVS Health said it has made a series of executive leadership assignments to support the company’s continued focus on innovation and strategic growth.
CVS Health is making changes to its board of directors. Richard Swift, Richard Bracken and Mark Bertolini will not stand for reelection at the company’s 2020 annual meeting. The board will then be reduced from 16 to 13 directors in order to further align with corporate governance best practices, the company said.
At its June 4 Investor Day, CVS Health executives demonstrated how the company plans to accelerate enterprise growth, simplify how consumers can engage the health care system and position the business for long-term growth.
First quarter financial results indicate that its fresh approach to retail and health care, including the company’s Aetna acquisition, is making gains, said Larry Menlo, CVS Health Corp. president and CEO.
CVS Health has named the management team that will lead the company when it combines with insurance and health-related services provider Aetna.