CVS Health Board Expands Amid Strategic Shifts

CVS Health has reached an agreement with Glenview Capital Management to add four new members to its board, including Glenview CEO Larry Robbins, expanding the board to 16 members. The new members, Leslie Norwalk, Guy Sansone, and Doug Shulman, bring diverse expertise as CVS faces pressure due to a 34% stock decline and challenges with its Aetna insurance unit. These appointments follow Glenview's increased stake in CVS and aim to enhance operational performance and stakeholder value. Under the leadership of new CEO David Joyner, CVS is undergoing strategic shifts to improve operational execution and focus on debt reduction. Robbins emphasized the collaboration with CVS as a step towards rebuilding investor confidence. The agreement represents a strategic transformation for CVS as it navigates current challenges.