Merging of the minds: CVS Health names post-merger leadership
As the close of CVS Health’s acquisition of health insurer Aetna nears its close, the Woonsocket, R.I.-based company has named the leadership that will lead the combined companies’ business units and shared services. Once the deal closes, Aetna will operate as a stand-alone business unit with CVS health, led by its current management, and CVS Health executives will play key roles in the combined company.
"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, with Shawn Guertin, currently Aetna’s executive vice president, CFO and chief enterprise risk officer, assuming the role of CVS Health executive vice president and CFO.
Also departing will be Aetna’s executive vice president of corporate affairs Steven Kelmar, executive vice president and general counsel Thomas Sabatino and executive vice president and chief human resources officer Thomas Weidenkopf. Lisa Bisaccia, CVS Health’s executive vice president and chief human resources officer, will continue in that role for the combined company.
With regard to business unit leadership, CVS Health executive vice president 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 vice president of CVS Health and president of the Aetna business unit. Aetna’s executive vice president of government services, Fran Soistman, will continue on in her role, leading the Medicare, Medicaid and federal plans business units and reporting to Lynch.
CVS Caremark’s current executive vice president of specialty pharmacy, Alan Lotvin, will become executive vice president 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 vice president, 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 vice president and chief medical officer of CVS Health, overseeing clinical and medical affairs, as well as health care services.
Aetna’s executive vice president and head of enterprise strategy, Rick Jelinek, will be CVS Health executive vice president once the merger is complete, co-leading the companies’ integration efforts alongside Josh Flum, CVS Health executive vice president 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 vice president and chief medical officer Harold Paz and executive vice president of operations and technology Meg McCarthy will remain with the company for a period of time once the merger closes, the company said.
"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."
"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, with Shawn Guertin, currently Aetna’s executive vice president, CFO and chief enterprise risk officer, assuming the role of CVS Health executive vice president and CFO.
Also departing will be Aetna’s executive vice president of corporate affairs Steven Kelmar, executive vice president and general counsel Thomas Sabatino and executive vice president and chief human resources officer Thomas Weidenkopf. Lisa Bisaccia, CVS Health’s executive vice president and chief human resources officer, will continue in that role for the combined company.
With regard to business unit leadership, CVS Health executive vice president 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 vice president of CVS Health and president of the Aetna business unit. Aetna’s executive vice president of government services, Fran Soistman, will continue on in her role, leading the Medicare, Medicaid and federal plans business units and reporting to Lynch.
CVS Caremark’s current executive vice president of specialty pharmacy, Alan Lotvin, will become executive vice president 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 vice president, 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 vice president and chief medical officer of CVS Health, overseeing clinical and medical affairs, as well as health care services.
Aetna’s executive vice president and head of enterprise strategy, Rick Jelinek, will be CVS Health executive vice president once the merger is complete, co-leading the companies’ integration efforts alongside Josh Flum, CVS Health executive vice president 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 vice president and chief medical officer Harold Paz and executive vice president of operations and technology Meg McCarthy will remain with the company for a period of time once the merger closes, the company said.
"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."