By Everdeen Mason
CVS Caremark Corp. (CVS) named Helena B. Foulkes president of
its pharmacy unit, replacing Mark Cosby who has stepped down.
The 49-year-old Ms. Foulkes, who takes her new position Jan. 1,
has served in various leadership positions at CVS for 20 years. She
was responsible for starting the company's retail loyalty program,
ExtraCare, and bringing new health-care programs to market, said
Larry J. Merlo, president and Chief Executive of CVS Caremark.
Mr. Cosby, 54 years old, led CVS's retail business since October
2011. CVS didn't disclose his future plans.
"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," Mr. Merlo said.
CVS, which has 7,600 retail stores across the country, has
posted earnings growth for more than two years as it focuses on the
higher priced specialty-drug market.
Shares closed Friday at $66.68 and were inactive premarket. The
stock is up 46% in the last 12 months.
Write to Everdeen Mason at everdeen.mason@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires