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Report: Former Lilly CFO to head CVS Caremark

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NEW YORK — CVS Health reportedly has named former Eli Lilly and Co. chief financial officer Derica Rice to lead its CVS Caremark pharmacy benefit management unit.

Derica Rice

Plans call for Rice to take the helm at CVS Caremark on March 30, according to The Wall Street Journal, which cited an internal CVS memo.

CVS Health couldn’t immediately be reached for comment.

Rice retired from Lilly at the end of 2017 after 27 years at the pharmaceutical manufacturer, most recently as executive vice president of global services and CFO. The company had announced in June that he planned to retire.

At CVS, Rice take overs from Jonathan Roberts, who last March was promoted from president of CVS Caremark to executive vice president and chief operating officer of CVS Health, a newly created position.

CVS said at the time that it would begin an internal and external search for a new CVS Caremark president.

Rice joined Lilly in 1990 and held various posts in finance and operations until being promoted to executive vice president and CFO in May 2006, after having served as vice president and controller. He also had served as Lilly’s general manager in the United Kingdom, executive director and CFO of European operations and CFO for Canadian operations.


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