CVS Health makes 4 board appointments
The board of directors of CVS Health today announced the appointment of four new board members: Leslie Norwalk, Larry Robbins, Guy Sansone and Doug Shulman, following discussions with Glenview Capital Management.
“In our discussions with the leadership at Glenview, we agreed that we can deliver greater value from our integrated businesses to all of our stakeholders, including our customers, consumers, colleagues, and shareholders,” said Roger Farah, executive chairman of the board at CVS Health. “Having Leslie, Larry, Guy and Doug join our Board will add new thinking and deep market and industry experiences as we focus on driving greater financial and operational performance.”
“As we build momentum across our integrated model, we continue to take actions that are positive for our long-term success, while driving innovation and performance in our individual businesses and at CVS Health overall,” said David Joyner, president and CEO of CVS Health. “Adding four experienced thought leaders to our Board further sharpens our focus on executing against our strategy to build a world of health around every consumer, as we improve total cost of care and customer experience in health care.”
[Related: CVS Health makes 2 leadership appointments]
“We welcome the opportunity to join the Board, roll up our sleeves and lock arms with the Board and leadership team to drive long-term, sustainable value through continued customer-centric offerings, commitment to compliance and quality, disciplined underwriting and risk management, aligned incentives, and optimal capital allocation,” said Larry Robbins, CEO of Glenview Capital Management. “We appreciate the Board engaging with us on a cooperative basis that allows all energies to be productively dedicated towards further strengthening this iconic company.”
Norwalk will join the Health Services Committee, Sansone will join the Audit Committee and Shulman will join the Management Planning and Development Committee.
With these four new directors, the board now comprises 16 members. In connection with the board appointments, CVS Health and Glenview entered into a confidentiality agreement under which Glenview has agreed to customary confidentiality, standstill and other provisions.
[Read more: CVS Health replaces Karen Lynch with David Joyner]
Leslie Norwalk
Norwalk serves as Strategic Counsel to healthcare companies through her roles at Epstein Becker Green, EBG Advisors and National Health Advisors. She also advises several private equity firms and holds board positions at Arvinas, ModivCare, Neurocrine Biosciences, Globus Medical, as well as multiple privately held health care corporations. Her board experience includes previous roles with health insurers and pharmacy benefit managers. In the George W. Bush administration, Norwalk held several positions at the Centers for Medicare & Medicaid Services, including Acting Administrator.
Larry Robbins
Robbins is the founder, portfolio manager and CEO of Glenview Capital Management and has 30 years of experience as an institutional investor with a significant healthcare focus. He brings extensive board and leadership experience across both non-profit and commercial enterprises as board chair of KIPP NYC and Array Education, past board chair of Relay Graduate School of Education, Zearn and the Robin Hood Foundation and as Lead Independent Director of Butterfly Network. Robbins became a certified public accountant in 1991.
Guy Sansone
Sansone is the chairman and CEO of H2 Health, a regional provider of physical rehabilitation services and clinician staffing solutions. He brings more than 30 years of experience working as an advisor, investor and senior manager in companies where he helped to refine long-term strategy, enhance operations and implement organic and inorganic growth plans.
Prior to founding H2, Sansone worked at Alvarez and Marsal for 21 years where he was the founder of the Healthcare Industry Group. His leadership roles have been with companies across sub-sectors of the health care landscape, with a particular focus on healthcare services.
Doug Shulman
Shulman has been the chairman of OneMain Holdings, Inc. since January 2021, and has served as CEO since 2018. Shulman has significant experience managing large, complex organizations at the intersection of technology, data and analytics. Previously he was senior executive vice president, global head of client service delivery and a member of the executive committee at BNY Mellon from 2014 to 2018. Shulman was the commissioner of the Internal Revenue Service from 2008 to 2012. Earlier in his career, he served in several executive positions, including vice chairman, at the Financial Industry Regulatory Authority and its predecessor, the NASD, from 2000 to 2008, where he oversaw its multiple markets, corporate development, services and technology.