WOONSOCKET, R.I., Feb. 3, 2020 /PRNewswire/ -- CVS Health (NYSE:
CVS) today announced upcoming changes to its Board of Directors
(the "Board"). Richard "Dick" Swift, Richard Bracken and Mark
Bertolini will not stand for reelection at the company's
2020 Annual Meeting. The Board will then be reduced from 16 to 13
directors in order to further align with corporate governance best
practices.
Mr. Swift, the former Chairman of the Board, President and Chief
Executive Officer of Foster Wheeler Ltd., will be retiring from the
Board after having reached the mandatory retirement age. He has
served as a director of CVS Health since September 2006.
Mr. Bracken, the former Chairman and Chief Executive Officer of
HCA Inc. and HCA Holdings, Inc., will be leaving the Board and
retiring from board service after a 45 year career in health care
to spend more time on personal interests. He has served as a
director since January 2015.
Mr. Bertolini, the former Chairman and Chief Executive Officer
of Aetna Inc., became a director upon the November 2018 closing of CVS Health's acquisition
of Aetna. Following the successful integration of the Aetna
business, Mr. Bertolini will not continue as a member of the Board
after the Annual Meeting.
David W. Dorman, Chair of the
Board, stated, "We want to thank each of these highly accomplished
individuals for their service to the company and wish them all the
best in the future. We particularly want to thank Dick and Richard
for the tremendous leadership and expertise each brought to the
Board during their many years of service, including Dick's role as
Chair of the Audit Committee and Richard's role as Chair of the
Medical Affairs Committee. The Board would also like to thank Mark
for his contribution to the successful integration of Aetna."
Dorman continued, "CVS Health is successfully executing against
its strategy of becoming the world's most consumer-centric health
care company. As the organization continues to evolve, the
remaining directors of the Board and I have the utmost confidence
in the strength of the current management team, the progress the
company has shown to date and ability of CVS Health to deliver
value to all stakeholders moving forward."
About CVS Health
CVS Health is the nation's premier
health innovation company helping people on their path to better
health. Whether in one of its pharmacies or through its health
services and plans, CVS Health is pioneering a bold new approach to
total health by making quality care more affordable, accessible,
simple and seamless. CVS Health is community-based and locally
focused, engaging consumers with the care they need when and where
they need it. The Company has approximately 9,900 retail locations,
approximately 1,100 walk-in medical clinics, a leading pharmacy
benefits manager with more than 102 million plan members, a
dedicated senior pharmacy care business serving more than one
million patients per year and expanding specialty pharmacy
services. CVS Health also serves an estimated 38 million people
through traditional, voluntary and consumer-directed health
insurance products and related services, including rapidly
expanding Medicare Advantage offerings and a leading standalone
Medicare Part D prescription drug plan. The Company believes its
innovative health care model increases access to quality care,
delivers better health outcomes and lowers overall health care
costs. Find more information about how CVS Health is shaping the
future of health at https://www.cvshealth.com.
Forward-Looking Statements
The Private Securities
Litigation Reform Act of 1995 provides a safe harbor for
forward-looking statements made by or on behalf of CVS Health
Corporation. By their nature, all forward-looking statements
involve risks and uncertainties. Actual results may differ
materially from those contemplated by the forward-looking
statements for a number of reasons as described in our Securities
and Exchange Commission ("SEC") filings, including those set forth
in the Risk Factors section and under the section entitled
"Cautionary Statement Concerning Forward-Looking Statements" in our
most recently filed Annual Report on Form 10-K and in our most
recently filed Quarterly Report on Form 10-Q.
Investor Contact:
Valerie
Haertel
CVS Health
401-770-4050
Valerie.Haertel@CVSHealth.com
Media Contact:
T.J. Crawford
CVS Health
212-457-0583
CrawfordT2@aetna.com
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SOURCE CVS Health