CVS announces management team after CVS-Aetna deal
CVS Health Corp. announced early Wednesday the management team that will serve once its acquisition of health insurer Aetna Inc. closes. Aetna Chief Financial Officer Shawn Guertin will serve as CVS Health’s executive vice president and chief financial officer, with CVS Health current CFO David Denton planning to leave the company at the deal’s close. Rick Jelinek, Aetna’s executive vice president, head of enterprise strategy, will serve as CVS Health’s executive vice president. Karen Lynch, who is currently Aetna’s president, will also be CVS Health’s executive vice president. Several Aetna executives will also continue on in their roles, with Aetna serving as a standalone business unit within CVS Health. Other executives who plan to leave once the deal is finalized include Aetna executives Steven Kelmar, Thomas Sabatino and Thomas Weidenkopf; Aetna Chief Medical Officer Harold Paz and EVP Meg McCarthy will remain for some time to help with the transition. Until the deal closes, the two companies will continue to operate separately. Many CVS executives will also continue on with the company, including CVS Health Chief Operating Officer Jon Roberts, EVP and General Counsel Thomas Moriarty, CMO Troyen Brennan, EVP and Chief Human Resources Officer Lisa Bisaccia and Alan Lotvin, who will serve as executive vice president of transformation. CVS shares rose 0.6% in premarket trade. Shares have dropped 6.4% over the last three months, compared with a 0.8% rise in the S&P 500 and a 0.3% decline in the Dow Jones Industrial Average .