The post merger team is finally set so it’s time to start your engines
Steve’s breakdown: . . . because the leadership at CVS Health is in place. Everything is new and nobody knows which ad agencies were be cut from the race. So now it’s time too take your post positions. Try Norman de Greve at email@example.com because, as far as we know, he’s still is the CMO.
WOONSOCKET, RI: As it inches toward finalizing its acquisition of health insurer Aetna, CVS Health has unveiled the combined company’s new management team.
The Woonsocket, R.I.-based company has appointed the executives that will lead the combined companies’ business units and shared services. Once the deal closes, Aetna will operate as a standalone business unit with CVS Health, led by its current management. CVS Health executives will play key roles in the combined company.
With regard to business unit leadership, CVS Health executive VP and COO Jon Roberts will continue in his role, with oversight of CVS Pharmacy, CVS Caremark and long-term care pharmacy Omnicare. Current Aetna president Karen Lynch will be executive VP of CVS Health and president of the Aetna business unit. Aetna’s executive VP of government services, Fran Soistman, will continue on in her role, leading the Medicare, Medicaid and federal plans business units and reporting to Lynch. Shawn Guertin, currently Aetna’s executive VP, CFO and chief enterprise risk officer, will assume the role of CVS Health executive VP and CFO.
CVS Caremark’s current executive VP of specialty pharmacy, Alan Lotvin, will become executive VP of transformation, tasked with overseeing the combined company’s business transformation efforts. Aetna International president Richard di Benedetto will continue in his current role once the merger closes.
Shared services leadership also will bring together top executives from the two companies. Thomas Moriarty, currently CVS Health’s executive VP, chief policy and external affairs officer and general counsel will continue in his role, with responsibility for government affairs, corporate communications and legal. Troyen Brennan also will retain his role as executive VP and chief medical officer of CVS Health, overseeing clinical and medical affairs, as well as health care services.
Aetna’s executive VP and head of enterprise strategy, Rick Jelinek, will be CVS Health executive VP once the merger is complete. He will also co-lead the companies’ integration efforts alongside Josh Flum, CVS Health executive VP of enterprise strategy and corporate development.
Aetna CEO and chairman Mark Bertolini will be joining CVS Health’s board of directors, alongside two other directors. Aetna executive VP and chief medical officer Harold Paz and executive VP of operations and technology Meg McCarthy will remain with the company for a period of time once the merger closes, the company said.
“We’re very excited to be taking this milestone step in the journey to combine our two great companies,” said CVS Health president and CEO Larry 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. I look forward to working alongside this outstanding group of individuals as we take on the task of transforming the way health care is delivered in America engaging consumers with the care they need, when and where they need it, and making the patient and caregiver experience simpler and more affordable.”
Four executives from both companies will be departing once the merger closes. They include CVS Health CFO David Denton; Aetna’s executive VP of corporate affairs Steven Kelmar; executive VP and general counsel Thomas Sabatino, and executive VP and chief human resources officer Thomas Weidenkopf. Lisa Bisaccia, CVS Health’s executive VP and chief human resources officer, will continue in that role for the combined company.
“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.”