CVS announces post-Aetna-merger management team plans

CVS HEALTH announced its plans to integrate Aetna and CVS executives following the companies' planned merger. Aetna will operate as a stand-alone business unit within the company following the close. / BLOOMBERG FILE PHOTO/CHRISTOPHER LEE
CVS HEALTH announced its plans to integrate Aetna and CVS executives following the companies' planned merger. Aetna will operate as a stand-alone business unit within the company following the close. / BLOOMBERG FILE PHOTO/CHRISTOPHER LEE

WOONSOCKET – CVS Health Corp. revealed its proposed reorganized management team Wednesday that would go into effect if the company’s acquisition of Aetna Inc. is approved.

Aetna will continue to operate as a stand-alone business unit within the CVS Health business structure and will continue to be led by members of its current management team. The company also will be integrating Aetna executives into CVS operations.

“We’re very excited to be taking this milestone step into the journey to combine our two great companies,” said CVS CEO and President Larry J. Merlo. “The talent of both organizations is reflected in the management team that we are naming today and that will report to me as of the close of the transaction.”

Announced leadership to report under Merlo:

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  • Jonathan C.  Roberts will remain in the role of executive vice president and chief operating officer for CVS Health with operational oversight for CVS Pharmacy, CVS Caremark and Omnicare.
  • Karen S. Lynch, Aetna’s president, will serve as executive vice president of CVS Health and will remain president of the Aetna business unit.
  • Fran S. Soistman will serve as executive vice president and head of government services for the Aetna business unit.
  • Alan M. Lotvin will serve as executive vice president, transformation, moving from executive vice president of specialty pharmacy.
  • Richard di Benedetto will continue to serve as president of Aetna International.
  • Shawn M. Guertin, currently executive vice president, chief financial officer and chief enterprise risk officer for Aetna, will assume the position of executive vice president and chief financial officer for CVS Health.
  • Thomas M. Moriarty will continue to serve as executive vice president, chief policy and external affairs officer and general counsel for CVS Health.
  • Dr. Troyen A. Brennan will continue on as executive vice president and chief medical officer for CVS Health.
  • Rick M. Jelinek, executive vice president head of enterprise strategy for Aetna, will be appointed executive vice president CVS to co-lead the company’s integration efforts with CVS Health executive vice president of enterprise strategy and corporate development Josh Flum.
  • Lisa Bisaccia will continue on as executive vice president and chief human resources officer of CVS Health.

CVS Health Chief Financial Officer David Denton will leave the company when the transition occurs, while Aetna’s Chairman and CEO Mart T. Bertolini will not make the transition but will be appointed to the CVS Health board of directors.

“I would like to extend my thanks and gratitude to all of these individuals who have so ably served both organizations during a time when the health care marketplace has been changing dynamically,” said Merlo. “I am especially grateful to Dave Denton for his leadership and contributions during nearly 20 years serving CVS Health from the company it was to the company it has become. Dave has been a driving force behind the growth of CVS Health, and I wish him all the best.”

The company still expects the deal to close in the second half of 2018, pending regulatory approval. CVS was just named No. 7 on the Fortune 500 list, ranking company’s revenue in 2017 with $184.8 billion in revenue. Aetna ranked No. 49 with a $60.5 billion in revenue.

Chris Bergenheim is the PBN web editor.

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