Tag: CVS
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CVS replaces CEO as profits, share price suffer
Longtime CVS Health executive David Joyner has replaced Karen Lynch as CEO, as the company struggles to drive higher profits and stock performance, CVS announced Friday. The move, effective Thursday, the day before the announcement, comes as CVS shares have fallen nearly 20% this year. Shares plunged about 13% in premarket trading Friday. CVS has faced challenges as…
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CVS is under pressure and considering a breakup. Here’s why that could be risky
It’s time for a wellness check at CVS Health. Shares of the company are down more than 20% this year as it grapples with higher-than-expected medical costs in its insurance unit and pharmacy reimbursement pressure, among other issues. As it seeks to claw back faith with Wall Street, the company is considering breaking itself up. CVS has engaged advisors in…