CVS Health announces management team for combined company following close of Aetna acquisition
CVS Health announced the management team that, following the close of the Aetna (NYSE: AET) acquisition, will lead the combined company into the future. Aetna will operate as a stand-alone business unit within the CVS Health enterprise following the close and will be led by members of their current management team. In addition, members of both the Aetna and CVS Health management teams will play significant roles in the newly combined company. The transaction is expected to close in the second half of 2018, subject to required regulatory approvals. Until the close of the transaction, CVS Health and Aetna will continue to operate as two separate companies.
Management positions announced include business unit and shared services leaders as follows:
Business Unit Leadership
- Jon Roberts will continue to serve as Executive Vice President and Chief Operating Officer for CVS Health with operational oversight for CVS Pharmacy, CVS Caremark and Omnicare.
- Karen S. Lynch, currently President of Aetna, will serve as Executive Vice President of CVS Health and President for the Aetna business unit.
- Fran S. Soistman will continue to serve in his current position of Executive Vice President and Head of Government Services for Aetna, leading the Medicare, Medicaid and Federal Plans businesses reporting to Lynch.
- Alan M. Lotvin, M.D., currently Executive Vice President of Specialty Pharmacy for CVS Caremark, has been named Executive Vice President, Transformation, with oversight of the portfolio of business transformation initiatives for the combined company.
- Richard di Benedetto will continue to serve in his current position of President of Aetna International.
Shared Service Leadership
- Shawn M. Guertin, currently Executive Vice President, Chief Financial Officer and Chief Enterprise Risk Officer for Aetna, will assume the position of Executive Vice President and Chief Financial Officer for CVS Health. In this role, Guertin will have oversight of Investor Relations, Financial Planning and Analysis for the lines of business, Tax and Treasury functions, and Accounting.
- Thomas M. Moriarty will continue to serve as Executive Vice President, Chief Policy and External Affairs Officer and General Counsel for CVS Health. Moriarty’s responsibilities include Government Affairs, Corporate Communications and Legal.
- Troyen A. Brennan, M.D., M.P.H. will continue to serve as Executive Vice President and Chief Medical Officer for CVS Health. Brennan provides oversight for clinical and medical affairs and health care services.
- Rick M. Jelinek, currently Executive Vice President, Head of Enterprise Strategy for Aetna, will be appointed Executive Vice President, CVS Health. In this role following the close of the transaction, Jelinek will continue to co-lead the combined company’s integration efforts alongside Josh Flum, Executive Vice President of Enterprise Strategy and Corporate Development for CVS Health.
- Lisa Bisaccia will continue to serve as Executive Vice President and Chief Human Resources Officer. In addition to leading the Human Resources organization, Bisaccia will provide strategic oversight for the combined company’s corporate social responsibility and philanthropic activities.
Also as part of the transition of the organizations, several executives from both CVS Health and Aetna will be departing. David Denton, who currently serves as CVS Health’s Chief Financial Officer has elected to depart the company at the close. Similarly, Aetna executives Steven B. Kelmar, Executive Vice President, Corporate Affairs; Thomas J. Sabatino, Jr., Executive Vice President and General Counsel; and Thomas W. Weidenkopf, Executive Vice President and Chief Human Resources Officer, will remain in their roles until the close of the transaction.
