On October 18, 2024, CVS Health Corporation announced a significant leadership change with the appointment of J. David Joyner as the new President and Chief Executive Officer, effective October 17, 2024. He succeeds Karen S. Lynch, who has stepped down from her role and resigned from the Board of Directors. Concurrently, Roger N. Farah has been appointed as Executive Chairman of the Board. Prior to his new role, Joyner served as the Executive Vice President and President of Pharmacy Services at CVS Health since January 2023 and has a long history with the company, including various executive roles. The announcement coincided with the release of preliminary third-quarter financial results for 2024, which included GAAP diluted EPS of $0.03 to $0.08 and Adjusted EPS of $1.05 to $1.10. The company...Show More

On October 18, 2024, CVS Health Corporation announced a significant leadership change with the appointment of J. David Joyner as the new President and Chief Executive Officer, effective October 17, 2024. He succeeds Karen S. Lynch, who has stepped down from her role and resigned from the Board of Directors. Concurrently, Roger N. Farah has been appointed as Executive Chairman of the Board. Prior to his new role, Joyner served as the Executive Vice President and President of Pharmacy Services at CVS Health since January 2023 and has a long history with the company, including various executive roles. The announcement coincided with the release of preliminary third-quarter financial results for 2024, which included GAAP diluted EPS of $0.03 to $0.08 and Adjusted EPS of $1.05 to $1.10. The company also disclosed charges related to premium deficiency reserves and a restructuring charge associated with store closures and cost reduction actions. Investors were advised that the previous guidance issued on August 7, 2024, should no longer be relied upon due to elevated medical cost pressures, and an update will be provided during the earnings call scheduled for November 6, 2024.