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Neela Montgomery takes reins as new CVS Pharmacy president

CVS Health taps ex-Crate & Barrel CEO to lead largest U.S. drug chain

Russell Redman

December 1, 2020

3 Min Read
CVS_Pharmacy_store-exterior.jpg
CVS Pharmacy operates more than 9,900 retail locations in 49 states, D.C. and Puerto Rico and was No. 18 in sales (consumables) and No. 3 in stores on the 2020 Supermarket News list of the Top 75 Retailers and Wholesalers.CVS Health

Former Crate & Barrel CEO Neela Montgomery has taken the helm as president of CVS Pharmacy, the nation’s biggest drugstore chain.

Woonsocket, R.I.-based CVS Health said Montgomery started as executive vice president and president of CVS Pharmacy/Retail effective yesterday and will oversee the company’s more than 9,900 retail locations in 49 states, the District of Columbia and Puerto Rico. She takes over from CVS Health Executive VP and Chief Operating Officers Jon Roberts, who had been serving as interim CVS Pharmacy president since the January departure of Kevin Hourican, who became president and CEO of foodservice distributor Sysco.

Montgomery will report directly to Karen Lynch, who earlier this month was named as the next CEO of CVS Health. Currently executive VP at CVS Health and president of its Aetna health insurance subsidiary, Lynch will become CEO effective Feb. 1, succeeding Larry Merlo, who is retiring.

Neela Montgomery-CVS Pharmacy.jpgNeela Montgomery, CVS Pharmacy's new president (Photo courtesy of CVS Health)

“Neela is a seasoned retail industry leader with extensive digital and e-commerce experience,” Lynch said in a statement. "She brings deep consumer insights that will allow us to better anticipate consumers' changing needs and deliver even more value to our customers in local, personalized ways. Neela is well-positioned to lead CVS Pharmacy today and into the future.”

Related:CVS Health names Karen Lynch as next CEO

In the coming months, Montgomery will lead CVS Pharmacy as it plays a pivotal role in the nation’s health care system. The drug chain said it has provided “the most COVID-19 testing of any retailer” and will be “on the frontlines of vaccine administration” as the first FDA-approved coronavirus immunizations are released. CVS has reached agreements with the Department of Health and Human Services to provide COVID-19 vaccines to long-term care facilities and to the general population through its drugstores and MinuteClinic retail health clinics. 

“I am thrilled to lead CVS Pharmacy with its 190,000 dedicated colleagues and join such an outstanding leadership team,” Montgomery commented. “CVS Pharmacy plays a unique and important role in the health needs and lives of Americans. Increasingly, these health care touch points will be digital, virtual and in-person. This is a fantastic opportunity to help accelerate the company’s bold vision to deliver consumer health services in the community and ensure CVS Pharmacy plays an essential role in customers’ health moments.”

Most recently, Montgomery was CEO of furniture and home goods retailer Crate & Barrel, a role she held for three years. As chief executive, she transformed the chain’s online sales channel to more than 50% of the company’s total revenue and, in 2019, she was named to the ‘Top Women in Retail” list by the Women in Retail Leadership Circle, according to CVS. Previously, she served as group executive board member at the Otto Group, a global retail and services group and one of the world’s leading e-commerce retailers. 

Related:CVS taps DoorDash for same-day delivery of groceries and non-Rx items

Before that, Montgomery spent nearly a dozen years at United Kingdom grocer Tesco, most recently as general merchandise director for the U.K. She held a range of senior management positions at Tesco, including U.K. e-commerce director and chief merchant for Tesco Malaysia. Montgomery currently serves as a board partner at venture capital firm Greycroft and as a nonexecutive director on the board of computer and mobile peripherals company Logitech.

One of the largest U.S. retailers, CVS came in at No. 18 in sales at $19.38 billion (consumables only) and No. 3 in stores with 9,884 locations in the 2020 Supermarket News list of the Top 75 Retailers and Wholesalers.

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About the Author

Russell Redman

Senior Editor
Supermarket News

Russell Redman has served as senior editor at Supermarket News since April 2018, his second tour with the publication. In his current role, he handles daily news coverage for the SN website and contributes news and features for the print magazine, as well as participates in special projects, podcasts and webinars and attends industry events. Russ joined SN from Racher Press Inc.’s Chain Drug Review and Mass Market Retailers magazines, where he served as desk/online editor for more than nine years, covering the food/drug/mass retail sector. 

Russell Redman’s more than 30 years of experience in journalism span a range of editorial manager, editor, reporter/writer and digital roles at a variety of publications and websites covering a breadth of industries, including retailing, pharmacy/health care, IT, digital home, financial technology, financial services, real estate/commercial property, pro audio/video and film. He started his career in 1989 as a local news reporter and editor, covering community news and politics in Long Island, N.Y. His background also includes an earlier stint at Supermarket News as center store editor and then financial editor in the mid-1990s. Russ holds a B.A. in journalism (minor in political science) from Hofstra University, where he also earned a certificate in digital/social media marketing in November 2016.

Russell Redman’s experience:

Supermarket News - Informa
Senior Editor 
April 2018 - present

Chain Drug Review/Mass Market Retailers - Racher Press
Desk/Online Editor 
Sept. 2008 - March 2018

CRN magazine - CMP Media
Managing Editor
May 2000 - June 2007

Bank Systems & Technology - Miller Freeman
Executive Editor/Managing Editor
Dec. 1996 - May 2000

Supermarket News - Fairchild Publications
Financial Editor/Associate Editor
April 1995 - Dec. 1996 

Shopping Centers Today Magazine - ICSC 
Desk Editor/Assistant Editor
Dec. 1992 - April 1995

Testa Communications
Assistant Editor/Contributing Editor (Music & Sound Retailer, Post, Producer, Sound & Communications and DJ Times magazines)
Jan. 1991 - Dec. 1992 

American Banker/Bond Buyer
Copy Editor
Oct. 1990 - Jan. 1991 

This Week newspaper - Chanry Communications
Reporter/Editor
May 1989 - July 1990

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