CVS names longtime exec Ed DeVaney president of CaremarkCVS names longtime exec Ed DeVaney president of Caremark

CVS Health has named Ed DeVaney president of the company’s CVS Caremark pharmacy benefit management business.
DeVaney, who was named interim president in December 2024, will report to Prem Shah, group president, CVS Health. The announcement was made Monday.

“The role of PBMs has never been more critical in achieving affordability and access to medicine in our country, and our drive to greater drug pricing transparency through innovation has never been more needed,” said DeVaney in a press release.

DeVaney joined CVS Health in 2005, growing his career across CVS Caremark and Aetna, most recently leading CVS Caremark sales and account management as president, Employer & Health Plans, where he was responsible for growing and retaining the retailer’s customer base across the PBM’s lines of business, including government services and coalitions. He also was responsible for CVS’ PBM Marketing team.

Before joining CVS Health, Ed managed client relationships at Hewitt Associates, focusing on health care consulting and benefits administration.

Woonsocket, R.I.-based CVS Health is the largest drugstore chain in the United States with over 9,000 retail pharmacy locations as of December 31.