CVS’ Chris Bodine to retire from post by 2009

WOONSOCKET, R.I. —Longtime CVS Caremark executive Chris Bodine has decided, for personal reasons, to scale back his day-to-day responsibilities and prepare for retirement in 2009.

Bodine, executive vice president and president of CVS Caremark Health Care Services, has assumed a new position as special adviser to the chief executive officer of CVS Caremark, according a recent filing with the Securities and Exchange Commission.

In his new role, Bodine will retain responsibility for trade relations/Rx purchasing and MinuteClinic, as well as a role in the continued development of the company’s new healthcare model.

Bodine is scaling back at an interesting time as—through the merger with Caremark Rx—CVS transforms into a pharmacy healthcare service company and marks a new paradigm for retail pharmacy. Bodine has made significant contributions to the company during his 20-plus year tenure.

Over the years, Bodine has served in different aspects of the business, including stints as senior vice president of healthcare services and senior vice president of merchandising, which helped give him an acute sense of merchandising strategies. In 2002, he was named executive vice president of merchandising and marketing.

Bodine has helped manage several of the company’s largest acquisitions—including some 1,260 Eckerd stores and 700 stand-alone Sav-on and Osco drug store from Albertsons—and helped position the pharmacy retailer as a leader in the industry.

In 2007, he was named executive vice president and president of CVS Caremark Health Care Services, with responsibility for pharmacy merchandising, business development, information technology, MinuteClinic and PharmaCare.