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NEW CEO AT CVS BEGINS TO BUILD HIS TEAM WITH A GOAL OF REVIVING THE STRUGGLING HEALTH CARE GIANT
AppleMagazine
|AppleMagazine #680
CVS Health fell short on third-quarter profit, but it posted strong sales and the health care giant shook up leadership under new CEO David Joyner after a rough year that has sent shares plunging.
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Shares jumped this week along with markets as a whole surged on an election that will send Donald Trump back to the White House.
Joyner named UnitedHealth executive Steve Nelson as the leader of the company’s troubled health insurance wing, Aetna. That appointment is effective immediately.
Prem Shah, who joined the company in 2013, will lead CVS Caremark, CVS Pharmacy, and the company’s Health Care Delivery businesses.
CVS Health runs one of the nation’s largest drugstore chains and a huge pharmacy benefit management business that operates prescription drug coverage for employers, insurers and other big clients. It also covers nearly 27 million people through its Aetna insurance arm.
CVS’ insurance business has dragged on the company’s performance and many see in Nelson an industry veteran who can provide a needed jolt.
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