Karen Lynch is set to take over as the new CEO of CVS Health (NYSE:CVS) as current CEO Larry Merlo prepares to retire.
Here’s what CVS investors need to know about the new CEO.
- Lynch will take over as the next CEO of CVS starting on Feb. 1, 2021.
- She will also join the company’s Board of Directors at this time.
- Merlo will remain on the Board until its May 2021 Annual Meeting of Stockholders.
- Following this, he will serve as Strategic Advisor until the end of May to ensure a smooth transition before retiring.
- Lynch’s current roles at CVS include executive vice president of CVS Health and President of Aetna.
- She has been vital to the company’s integration of Aetna into its business.
- Her work resulted in a 30% growth for Medicare Advantage membership in 2019.
- Her work history includes eight total years with Aetna.
- Prior to that, she worked for a couple of other healthcare companies.
- That includes serving as the President of Magellan Health Services.
- Lynch also held several executive leadership positions during her time with Cigna (NYSE:CI).
- Outside of CVS, Lynch also currently holds a Board seat at U.S. Bancorp and is the chair of its Audit Committee.
- She has also been named one of Fortune’s Most Powerful Women in Business from 2016 to 2020.
- The new CVS CEO also holds a position on Business Insider’s Top 100 People Transforming Business.
CVS stock was up 6.2% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.