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CVS Health has hired industry executive David Joyner to replace CEO Karen Lynch and turn around the struggling company.
CVS said Joyner took over on Thursday when Lynch stepped down in agreement with the company’s board.
David Joyner, executive vice president and president of pharmacy services at CVS Health Corp., speaks during a hearing of the Senate Health, Education, Labor and Pensions Committee in Washington, May 10, 2023. (Photo: Al Drago/Bloomberg via Getty Images/Getty Images)
CVS CEO Roger Farah will become executive chairman.
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“To leverage our strong position, we believe David and his deep understanding of our integrated business can help us more directly address the challenges facing our industry, deliver faster the operational improvements our business requires, and fully realize the value that we can uniquely create,” Farah said in a statement.
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This is a developing story. Check for updates.
