CVS announces changes to C-Suite, amid Wall Street scrutiny

CVS’s leadership team will be taking on more responsibilities, amid increased Wall Street scrutiny of the company’s healthcare strategy, according to reporting from Forbes.

The moves, made by CVS president and CEO Karen Lynch, come at a difficult time for retail pharmacies, which have seen their stock prices hurting on Wall Street in recent weeks. 

The CVS announcement also comes less than a week after rival Walgreens Boots Alliance CEO Roz Brewer stepped down after less than three years.

Shawn Guertin, the company’s chief financial officer, will now also serve as president of Health Services. Guertin will be responsible for unifying the company’s care delivery assets, driving innovative strategies while expanding products and services, and delivering results across the growth businesses. Oak Street Health and Signify Health will continue to be aligned under Health Services, which will also include MinuteClinic.

Prem Shah, the chief customer and experience officer for CVS, will now be president of Pharmacy and Consumer Wellness. Shah will attempt to simplify the leadership structure for the segment.

Michelle Peluso, the chief customer and experience officer, will now take on the role of creating end-to-end patient experience across all of CVS’s care delivery and customer service channels.

Related:CVS launches company to produce ‘biosimilar’ versions of drugs

Brian Kane joins CVS as president of Aetna. His hiring was announced back in April.

“At a time when we are accelerating our strategy to deliver superior health experiences for consumers, we are advancing leaders who are driving patient-centric innovation,” said Lynch. “Our leaders are deploying the full set of our capabilities to improve overall health, lower costs, and provide broad access to care for the people and communities we serve.”