CVS Announces Key Executive Promotions

WOONSOCKET, R.I., Jan. 22 /PRNewswire-FirstCall/ -- Today, CVS Corporation (NYSE: CVS) announced the promotions of two key executives. Larry Merlo has been promoted to the newly created position of President of CVS/pharmacy - Retail. Chris Bodine has been promoted to the new position of President of CVS Health Services. These new assignments have been made in response to the company's rapid growth and to help support future expansion.

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"Chris and Larry are two dynamic leaders who have the vision, the values and the passion to help lead our company into the future," said Tom Ryan, Chairman, President and Chief Executive Officer of CVS Corporation. "The retail and health care environment is changing rapidly and our company has committed to leading that change. I look forward to working with Larry and Chris in their new roles as we continue to drive superior results and long term value for our shareholders."

Merlo, who most recently served as CVS's Executive Vice President of Stores, has been with the company for over sixteen years and has over 25 years of chain drug experience. In his new role, Merlo will be responsible for store operations, merchandising, logistics, inventory, marketing and field operations support.

Formerly Executive Vice President of Merchandising and Marketing, Bodine's experience at CVS spans more than twenty years. His new responsibilities will include pharmacy merchandising, business development, IT, MinuteClinic and PharmaCare.