CVS Caremark Corp. announced that Mark Cosby plans to step down as CVS/pharmacy president at the end of this year and will be replaced by Helena Foulkes, chief health care strategy and marketing officer.


CVS/pharmacy, Mark Cosby, Helena Foulkes, CVS Caremark, Larry Merlo, CVS/pharmacy president, drug chain, Macy's


































































































































































































































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Foulkes to succeed Cosby as CVS/pharmacy chief

November 25th, 2013

WOONSOCKET, R.I. – CVS Caremark Corp. announced that Mark Cosby plans to step down as CVS/pharmacy president at the end of this year and will be replaced by Helena Foulkes, chief health care strategy and marketing officer.

Mark Cosby

The company said Monday that Cosby is slated to leave the CVS/pharmacy president post on Dec. 31, and Foulkes is set to assume her new role on Jan. 1.

Cosby has been the top executive at the company's 7,600-store drug chain since October 2011. CVS announced the hiring of Cosby, previously president of department store chain Macy's Inc., as CVS/pharmacy president in late August 2011.

As CVS/pharmacy president, Cosby also oversaw 19 distribution centers as well as retail merchandising, supply chain, marketing, real estate, front store and pharmacy operations.

"Mark is an outstanding operator and retailer who has brought many positive changes to the organization in the short time that he has been with CVS/pharmacy," CVS Caremark president and chief executive officer Larry Merlo said in a statement. "I greatly appreciate his contributions to our retail operations and wish him the best of luck in his future endeavors."

Merlo noted that CVS/pharmacy will be in capable hands under the 49-year-old Foulkes, who was promoted to chief health care strategy and marketing officer, a newly created role, in late March 2011 after serving as executive vice president and chief marketing officer.

"Helena is an open-minded and forward-thinking strategist, who has developed a reputation for successfully building product and business model innovations that drive growth, and for bringing together thought leaders both inside and outside the company," Merlo stated.

Helena Foulkes

"As health care continues to evolve and we drive further differentiation through our integrated pharmacy model, we need a leader who truly understands the health care consumer and the opportunities we can deploy to attract and retain customers and generate strong, longer-term growth, " he added.

Since joining CVS in 1992, Foulkes has held a variety of different positions with the company, including her most recent post where she was responsible for overall corporate strategy and enterprise marketing and communications.

In that role, she spearheaded the development of the company's Maintenance Choice and Pharmacy Advisor health care programs. Earlier, she was instrumental in the creation of CVS' ExtraCare loyalty program, which has about 70 million active cardholders.

"I am honored to lead our talented retail team. CVS Caremark has the unique ability to build consumer-centric health care solutions that improve access, control costs and lead to better health outcomes," Foulkes said in a statement.

CVS Caremark said Foulkes will retain her responsibility for the company's enterprise digital, brand and communications functions as she moves to the new role.

"I am excited to take on this new role and am committed to driving CVS/pharmacy's continued strong growth," Foulkes added. "At the same time, I look forward to working closely with our enterprise leadership team to continue to introduce innovations that meet the changing needs of clients, patients and payors while driving growth for CVS Caremark."

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