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People on the move … Oct. 12

Important personnel changes at CVS and Target you should know about this week.
Nigel F. Maynard
Editorial Director
Nigel

Drug Store News has rounded up all the retail pharmacy comings and goings to help keep you informed. Here are this week’s announcements.

Target names Prat Vemana chief digital and product officer

Target hired Prat Vemana as executive vice president, chief digital and product officer. Vemana will join Target on Oct. 31 as a member of the leadership team, reporting to chief guest experience officer Cara Sylvester.

In this role, Vemana will oversee Target’s digital business, including site merchandising, user experience, digital operations and product, and Target+, the retailer’s growing online third-party marketplace.

“Digital continues to be a major growth driver for Target, and we’re excited for Prat to bring his proven expertise in this area to an elevated role on our leadership team,” said CEO Brian Cornell. “Our team has created a digital shopping experience that is truly best in class, and under Prat’s leadership, our digital business is well-positioned to continue growing for years to come.” 

“With his experience leading digital businesses across consumer-facing industries and a guest-centric vision, Prat is the ideal leader to further accelerate Target’s digital growth and maximize our impact for guests, team members and our business,” said Cara Sylvester, chief guest experience officer.

Vemana joins Target from Kaiser Permanente, where he served as senior vice president and chief digital officer and led its enterprise product management and experience teams. During his time at the company, he advanced and accelerated its digital strategy by modernizing its platforms to migrate, deploy and manage applications with greater speed and agility.

“Target sets the standard for consumer experience in retail and is known for delighting its guests in a way that’s consistent and engaging across every touchpoint,” Vemana said. “I’m thrilled to join a company that I’ve long admired, and I look forward to playing a key role in shaping the future of Target’s leading digital experience.” 

CVS Health appoints Dr. Jeffrey Balser to board of directors

CVS Health appointed Jeffrey R. Balser, M.D., Ph.D., to serve on the board of directors at CVS Health, effective immediately. He has also been named to the board's medical affairs committee.

"Dr. Balser's extensive experience in a wide range of roles across health care organizations will be an invaluable asset for the Board," said CVS Health president and CEO Karen S. Lynch. "His deep clinical expertise and leadership of a prestigious health system gives him the insight to help support our strategy to serve consumers and meet their health needs differently."

Dr. Balser serves as president and chief executive officer of Vanderbilt University Medical Center and has served as its chief executive since 2009, and has also served as Dean of the Vanderbilt University School of Medicine since 2008. VUMC is one of the largest and most prominent academic medical centers in the Southeast, with seven hospitals and 170 outpatient facilities across Tennessee and in neighboring states.

"On behalf of the board, I want to welcome Dr. Balser to CVS Health," said Roger N. Farah, independent chair of the board. "This is an exciting time for the Company, and we are confident he will be a valuable addition as we continue to redefine health care."

Dr. Balser is a member of the National Academy of Medicine and serves on its governing council. He also currently serves on the boards of VUMC, Tulane University, and the Nashville Health Care Council.

"I believe CVS Health's vision for primary care and its integrated approach to care delivery will help improve the health experience in our country," Dr. Balser said. "I look forward to working with the management team and the Board to help advance the company's strategy."

Hikma appoints Victoria Hull and Laura Balan as directors

Hikma Pharmaceuticals has appointed Laura Balan and Victoria Hull as independent non-executive directors, effective October 1 and November 1, respectively.

“I am very pleased to welcome Laura and Victoria to the Hikma board,” said Darwazah, executive chairman and CEO. “Laura brings extensive knowledge of the global healthcare industry and an excellent track record of investing in a broad range of healthcare businesses.  She is a strong strategic thinker who will add value to the board. Victoria brings broad experience across a range of businesses, having held executive and non-executive director roles. She has strong experience of the U.K. listed environment and brings extensive M&A experience to the board.”

In line with our plans for the future composition of the Hikma board, Victoria will be appointed senior independent director and assume the role of chair of the nomination and governance committee during the course of 2023. The effective date for these changes will be confirmed in the 2022 annual report.

Balan worked for 17 years at The Capital Group Companies, the U.S. investment manager with $2.6 trillion under management, where she recently retired from her role as partner. Covering the European healthcare and pharmaceutical sectors while at Capital, Laura gained a deep understanding of international business, the pharmaceutical industry globally, key sector trends and dynamics, the company said.

An experienced non-executive director, Hull is currently serving non-executive directorships and remuneration committee chair positions for IQE PLC, Alphawave IP Group PLC and Network International Holdings PLC. She was also the senior independent director for Ultra Electronics Holdings PLC, until their acquisition by a private equity firm in August 2022, the company said.

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