Board selects Roger Farah as next independent chair.

WOONSOCKET, R.I. — CVS Health Corp. announced Thursday that David Dorman, independent chair of the board of directors of CVS Health, will retire at the end of his current term, effective with the annual meeting of stockholders to be held on May 11. In addition, the board has unanimously selected Roger Farah to succeed Dorman as independent chair. Director Tony White will also retire from the board, having reached the board’s mandatory retirement age.

Karen Lynch

“On behalf of the board, our leadership team and our 300,000 CVS Health colleagues, I want to thank Dave for his contributions to CVS Health,” said CVS Health president and CEO Karen Lynch. “His vision has helped drive the growth of our company, and we have all benefitted from his guidance and insight as we have advanced our strategy to reshape the consumer health care experience.”

Dorman commented, “It has been a great honor to serve on the board and as chair of CVS Health. I am proud of everything that we have accomplished and the challenges we overcame in building the nation’s leading health solutions company. I could not be more excited about what the future holds for CVS Health. Finally, I would like to thank all my fellow directors and all of our CVS Health colleagues for their support and partnership during my time on the board and as chair.”

Dorman was appointed to the board of directors of CVS Health in March 2006 and has served as chair since May 2011.

Farah added, “It has been a privilege to serve with Dave since I joined the board in 2018. Looking forward, I am excited to partner with Karen as she leads CVS Health through this transformative period. No other company is better positioned to both impact health care at scale and drive profitable growth while enhancing shareholder value.”

Lynch continued, “I have worked with Roger for nearly a decade and I look forward to working with him during what is truly an exciting time for CVS Health. Roger’s experience and expertise will help guide us as we continue to execute our strategy and become an even bigger part of our customers’ everyday health.”

Farah has served as a director of CVS Health since the closing of CVS Health’s acquisition of Aetna Inc. in November 2018, and prior to that time had served on the board of directors of Aetna since 2007. Farah currently serves on the Management Planning and Development and the Medical Affairs Committees of the CVS Health Board. During his 40-plus year career in retailing, he has served in a number of leadership and senior executive positions at leading companies. 

Tony White will also retire in May at the end of his current term and has been a director on the board since 2011.

“Tony has been a highly valued member of the Board and we thank him for all his contributions to CVS Health,” added Lynch. “His deep level of health care and life sciences expertise was critical to me and the Board as we navigated through the pandemic to lead the delivery of COVID-19 testing and vaccinations.”

Following the retirements of Dorman and White, the size of the board will be reduced to 11 directors.