Inside This Issue - News
CVS seeking president for retail unit
January 24th, 2011
WOONSOCKET, R.I. – CVS Caremark Corp. has resumed its search for a new president of CVS/pharmacy and has appointed Mike Bloom and Scott Baker to oversee the retail business on an interim basis.
The decision means that CVS has backed away from its appointment last month of former Walmart executive vice president Hank Mullany to head CVS/pharmacy. Walmart had obtained a preliminary injunction blocking the hiring, claiming that it would breach a noncompete agreement with Mullany.
Both Bloom, who is executive vice president of merchandising and supply chain, and Baker, executive vice president of internal operations and real estate, report directly to Larry Merlo, CVS’ president and chief operating officer.
"As the company’s succession planning process moves forward and I have assumed more enterprise-wide responsibilities, we made the decision to delegate the day-to-day operations of our retail business to two of our most senior retail executives," says Merlo. "What has remained clear throughout our search for a new president of CVS/pharmacy is that we are very fortunate to have a strong, stable group of senior leaders supporting our business. This team of individuals has helped shape our direction and has consistently demonstrated the highest levels of leadership and teamwork. I expect this success to continue into the future as Mike and Scott lead the retail organization."
Merlo expressed confidence that CVS will find the right person to lead the retail business on a permanent basis.