WOONSOCKET, R.I. — With its $69 billion buyout of Aetna on track to close later this year, CVS Health announced the management team selected to lead the combined company.
Assuming the deal passes muster with antitrust regulators, Aetna will operate as a stand-alone business unit within CVS Health and be led by members of its current management team, CVS said in a statement.
“We’re very excited to be taking this milestone step in the journey to combine our two great companies,” said CVS Health president and chief executive officer Larry Merlo. “The talent of both organizations is reflected in the management team that we are naming today and that will report to me as of the close of the transaction. I look forward to working alongside this outstanding group of individuals as we take on the task of transforming the way health care is delivered in America — engaging consumers with the care they need, when and where they need it, and making the patient and caregiver experience simpler and more affordable.”
Management positions announced last month include the following business unit and shared services leaders:
Business unit leadership
• Jon Roberts will continue to serve as executive vice president and chief operating officer of CVS Health, with operational oversight for CVS Pharmacy, CVS Caremark and Omnicare.
• Karen Lynch, president of Aetna, will serve as executive vice president of CVS Health and president of the Aetna business unit.
• Fran Soistman will continue to serve as executive vice president and head of government services for Aetna, leading the Medicare, Medicaid and Federal Plans businesses, and reporting to Lynch.
• Dr. Alan Lotvin, executive vice president of specialty pharmacy at CVS Caremark, has been named executive vice president of transformation, with oversight of the portfolio of business transformation initiatives for the combined company.
• Richard di Benedetto will continue to serve as president of Aetna International.
Shared service leadership
• Shawn Guertin, executive vice president, chief financial officer and chief enterprise risk officer at Aetna, will assume the position of executive vice president and chief financial officer at CVS Health. In this role, Guertin will have oversight of investor relations, financial planning and analysis for the lines of business, tax and treasury functions, and accounting.
• Thomas Moriarty will continue to serve as executive vice president, chief policy and external affairs officer and general counsel at CVS Health. Moriarty’s responsibilities include government affairs, corporate communications and legal.
• Dr. Troy Brennan will continue to serve as executive vice president and chief medical officer for CVS Health. Brennan provides oversight for clinical and medical affairs and health care services.
• Rick Jelinek, executive vice president and head of enterprise strategy for Aetna, will become executive vice president for CVS Health. In this role, Jelinek will continue to co-lead the combined company’s integration efforts alongside Josh Flum, executive vice president of enterprise strategy and corporate development for CVS Health.
• Lisa Bisaccia will continue to serve as executive vice president and chief human resources officer. In addition, Bisaccia will provide strategic oversight for the combined company’s corporate social responsibility and philanthropic activities.
Three Aetna directors, including chairman and CEO Mark Bertolini, will join the CVS board.