CVS Health makes Caremark transformation leadership appointments

2/12/2020

CVS Health is shuffling leadership in its Caremark business, its transformation team and its Aetna business. The company on Wednesday announced several executive leadership appointments it said were in line with its growth plan.

"We have set a clear and bold path for CVS Health to be the most consumer-centric health company and transform the way care is delivered, and we have laid a strong foundation for growth following more than a year of successfully integrating the Aetna business," said Larry Merlo, CVS Health president and CEO. "As we continue to innovate and execute we will stay close to the markets we serve and respond to the needs of our clients. The assignments announced today place our leaders in areas where their unique experience and deep business relationships will help us deliver on our core growth initiatives and transformation strategies."

Alan Lotvin, CV[S Health executive vice president, who previously led CVS Health's transformation efforts, will serve as president of CVS Caremark. He also will have oversight of CVS Specialty and CVS Kidney Care. Lotvin has deep experience in the PBM business, including expertise in specialty pharmacy. With the growing importance of specialty medicines and gene therapy management, he is uniquely positioned to lead the company's next wave of growth in this area, the company said.

Jonathan Mayhew has been named executive vice president of transformation, and will be responsible for the transformation product portfolio. Mayhew has diverse health care experience, most recently serving as senior vice president for the Aetna Markets organization. CVS Health said Mayhew has a track record of building and growing businesses to serve needs in the marketplace and is uniquely positioned to bring CVS Health's transformation products to life across the company's open-access platform.

Alec Cunningham was named executive vice president and COO for the Aetna business and will lead an expanded organization that will focus on Medicare Advantage and government programs overall, an area of growing importance. Cunningham joined CVS Health last year from Concerto Healthcare, a leading provider organization that serves dual-eligible, Medicare, Medicaid, and complex medical needs patients.

Derica Rice, executive vice president and president, CVS Caremark, will depart CVS Health. Derica will remain with the company through February to help ensure a seamless transition.

"I want to thank Derica for his leadership during a period of significant growth and evolution for our PBM business, and wish him the best in his future endeavors," said Merlo. "I am confident we are driving a sea change in how our key stakeholders think about us, and how consumers partner with us to take control of their health. These new assignments will accelerate that process."

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