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New President Steps In at CVS

Posted: November 25, 2013

CVS Caremark announced Helena B. Foulkes has been named president of CVS/pharmacy, effective January 1, 2014. Foulkes most recently served as the company's chief health care strategy and marketing officer, responsible for corporate strategy and enterprise marketing, government relations and communications. Throughout her more than 20-year tenure with the company, Foulkes has held increasingly large and impactful leadership roles in the company's retail business, including merchandising, marketing and store operations. Since the merger with Caremark, she has led several integrated product/service teams and was instrumental in facilitating the evolution of the company's overall health care strategy. Foulkes also led the company's work in transforming the digital experience for consumers in health care.

"Helena is an open-minded and forward-thinking strategist who has developed a reputation for successfully building product and business model innovations that drive growth and for bringing together thought leaders both inside and outside the company," said Larry J. Merlo, president and CEO of CVS Caremark. "Her industry track record includes leading innovations such as ExtraCare, the largest retail loyalty program in the country with approximately 70 million active cardholders. More recently, Helena has helped bring groundbreaking pharmacy health care programs to market, including maintenance choice and pharmacy advisor. She has held positions across the enterprise and understands how to meet the needs of both consumers and clients while delivering bottom line results.

"As health care continues to evolve and we drive further differentiation through our integrated pharmacy model, we need a leader who truly understands the health care consumer and the opportunities we can deploy to attract and retain customers and generate strong, longer-term growth," Merlo commented.

As president of CVS/pharmacy, Foulkes will have responsibility for all aspects of the company's retail business including its more than 7,600 retail stores, 19 distribution centers and retail merchandising, supply chain, marketing, real estate, front store and pharmacy operations. In addition, Foulkes will maintain her responsibility for the company's enterprise digital, brand and communications functions.

"I am honored to lead our talented retail team. CVS Caremark has the unique ability to build consumer-centric health care solutions that improve access, control costs and lead to better health outcomes," said Foulkes, whose passion for the customer and broad experience at CVS Caremark make her the ideal choice to lead CVS/pharmacy.

"I am excited to take on this new role and am committed to driving CVS/pharmacy's continued strong growth," she continued. "At the same time, I look forward to working closely with our enterprise leadership team to continue to introduce innovations that meet the changing needs of clients, patients and payors while driving growth for CVS Caremark."

Foulkes succeeds Mark Cosby, who had led the company's retail business since October 2011.