Retail News Breaks Archives
CVS names Mark Cosby head of retail segment
August 22nd, 2011
Woonsocket, R.I. – Mark Cosby has been named president of CVS/Pharmacy, effective October 1.
He will be responsible for all aspects of CVS’ retail operations, including its network of more than 7,200 stores, 19 distribution centers and its e-commerce site, as well as retail merchandising, supply chain, marketing, real estate, front end and pharmacy operations.
The 52-year-old Cosby most recently was president of stores at Macy’s Inc. In that role, which he had held since February 2009, Cosby was responsible for the company’s store operations and support functions throughout the country, as well as overseeing Macy’s outlets in the Northeast and Mid-Atlantic states.
"We’re delighted that Mark is joining our team," said Merlo. "His valuable experience at major retailers in operations and strategic planning makes him an excellent choice to lead our retail business going forward. I am confident that Mark will bring a strong vision, great energy and new ideas to CVS/pharmacy as we continue to refine our model and introduce innovations that position us for ongoing success and industry leadership."
Cosby joined Macy’s headquarters staff in July 2006 as senior vice president of property development and subsequently served as president and chief operating officer of Macy’s East. Prior to joining Macy’s, Cosby was president of full-line stores at Sears Roebuck and Co., and before that he was chief operations officer at KFC Corp. and chief development officer at fast-food restaurant operator Yum Brands. He started his career as a financial analyst at General Foods Corp.
With his department store background, Cosby brings a very different perspective to CVS/pharmacy, which is grounded in health care.
"I am looking forward to this exciting new role,” said Cosby. "My passion for the customer and broad retail experience has helped to prepare me for this and I am honored to lead this talented team of retail executives. What makes CVS/pharmacy extraordinary is its unique ability to improve the lives of millions of Americans by providing easy, innovative solutions and personalized pharmacy health care at their neighborhood drug store. I am committed to driving profitable growth and furthering our retail leadership position."