CVS Health Board of Directors appoints four
new members: Leslie Norwalk,
Larry Robbins, Guy Sansone, and Doug
Shulman
Appointments follow productive engagement with
Glenview Capital Management
WOONSOCKET, R.I., Nov. 18,
2024 /PRNewswire/ -- The Board of Directors of CVS
Health (NYSE: CVS) today announced the appointment of four new
board members: Leslie Norwalk,
Larry Robbins, Guy Sansone, and Doug
Shulman, following productive discussions with Glenview
Capital Management.
"In our discussions with the leadership at Glenview, we agreed
that we can deliver greater value from our integrated businesses to
all of our stakeholders, including our customers, consumers,
colleagues, and shareholders," said Roger
Farah, Executive Chairman of the Board, CVS Health. "Having
Leslie, Larry, Guy, and Doug join our Board will add new thinking
and deep market and industry experiences as we focus on driving
greater financial and operational performance."
"As we build momentum across our integrated model, we continue
to take actions that are positive for our long-term success, while
driving innovation and performance in our individual businesses and
at CVS Health overall," said David
Joyner, president and chief executive officer of CVS Health.
"Adding four experienced thought leaders to our Board further
sharpens our focus on executing against our strategy to build a
world of health around every consumer, as we improve total cost of
care and customer experience in health care."
"We welcome the opportunity to join the Board, roll up our
sleeves and lock arms with the Board and leadership team to drive
long-term, sustainable value through continued customer-centric
offerings, commitment to compliance and quality, disciplined
underwriting and risk management, aligned incentives, and optimal
capital allocation," said Larry
Robbins, CEO of Glenview Capital Management. "We
appreciate the Board engaging with us on a cooperative basis that
allows all energies to be productively dedicated towards further
strengthening this iconic company."
Norwalk will join the Health Services Committee, Sansone will
join the Audit Committee, and Shulman will join the Management
Planning and Development Committee.
With these four new directors, the Board now comprises 16
members. In connection with the Board appointments, CVS
Health and Glenview entered into a confidentiality agreement under
which Glenview has agreed to customary confidentiality, standstill
and other provisions. The confidentiality agreement will be
filed on a Form 8-K with the U.S. Securities and Exchange
Commission.
About Leslie Norwalk
Norwalk serves as Strategic Counsel to healthcare companies
through her roles at Epstein Becker Green, EBG Advisors, and
National Health Advisors. She also advises several private equity
firms and holds board positions at Arvinas, ModivCare, Neurocrine
Biosciences, Globus Medical, as well as multiple privately held
healthcare corporations. Her board experience includes previous
roles with health insurers and pharmacy benefit managers. In the
George W. Bush administration, Norwalk held several positions at
the Centers for Medicare & Medicaid Services (CMS), including
Acting Administrator, where she oversaw Medicare, Medicaid, the
State Children's Health Insurance Program, Survey and
Certification, and other federal healthcare initiatives, notably
implementing the Medicare Prescription Drug Benefit.
About Larry Robbins
Robbins is the Founder, Portfolio Manager, and CEO of Glenview
Capital Management and has 30 years of experience as an
institutional investor with a significant healthcare focus. He
brings extensive Board and leadership experience across both
non-profit and commercial enterprises as Board Chair of
KIPP NYC and Array Education, past
Board Chair of Relay Graduate School of Education, Zearn and the
Robin Hood Foundation and as Lead Independent Director of Butterfly
Network. Robbins became a Certified Public Accountant in
1991.
About Guy Sansone
Sansone is currently Chairman and CEO of H2 Health, a leading
regional provider of physical rehabilitation services and clinician
staffing solutions. He brings more than 30 years of experience
working as an advisor, investor and senior manager in companies
where he helped to refine long-term strategy, enhance operations,
and implement organic and inorganic growth plans. Prior to
founding H2, Sansone worked at Alvarez and Marsal for 21 years
where he was the founder of the Healthcare Industry Group. His
leadership roles have been with companies across sub-sectors of the
healthcare landscape, with a particular focus on healthcare
services. Sansone is Lead Independent Director of Pediatrix Medical
Group, and serves on the board of ChenMed. He has also served on a
number of healthcare company boards, including Magellan, Brookdale
Senior Living, and HealthPRO Heritage.
About Doug Shulman
Shulman has been the Chairman of OneMain Holdings, Inc. since
January 2021, and has served as CEO
since 2018. Shulman has significant experience managing large,
complex organizations at the intersection of technology, data and
analytics. Previously he was Senior Executive Vice
President, Global Head of Client Service Delivery and a member of
the Executive Committee at BNY Mellon from 2014 to 2018.
Shulman was the Commissioner of the Internal Revenue Service from
2008 to 2012. Earlier in his career, he served in several executive
positions, including Vice Chairman, at the Financial Industry
Regulatory Authority and its predecessor the NASD from 2000 to
2008, where he oversaw its multiple markets, corporate development,
services and technology. Shulman currently serves on the Carnegie
Foundation for the Advancement of Teaching Board of Trustees.
About CVS Health
CVS Health® is the leading health solutions company, delivering
care like no one else can. We reach more people and improve the
health of communities across America through our local presence,
digital channels and over 300,000 dedicated colleagues — including
more than 40,000 physicians, pharmacists, nurses and nurse
practitioners. Wherever and whenever people need us, we help them
with their health — whether that's managing chronic diseases,
staying compliant with their medications or accessing affordable
health and wellness services in the most convenient ways. We help
people navigate the health care system — and their personal health
care — by improving access, lowering costs and being a trusted
partner for every meaningful moment of health. And we do it all
with heart, each and every day. Follow @CVSHealth on social
media.
About Glenview Capital
In its 24th year of operations, Glenview Capital
is a long-term investment partnership focused on fundamental
investing.
Cautionary statement concerning forward-looking
statements
This press release contains forward-looking statements. The
Private Securities Litigation Reform Act of 1995 provides a safe
harbor for forward-looking statements made by or on behalf of CVS
Health. By their nature, all forward-looking statements are not
guarantees of future performance or results and are subject to
risks and uncertainties that are difficult to predict and/or
quantify. Actual results may differ materially from those
contemplated by the forward-looking statements due to the risks and
uncertainties described in our Securities and Exchange Commission
("SEC") filings, including those set forth in the Risk Factors
section and under the heading "Cautionary Statement Concerning
Forward-Looking Statements" in our most recently filed Annual
Report on Form 10-K, our Quarterly Reports on Form 10-Q for the
quarterly periods ended March 31,
2024, June 30, 2024 and
September 30, 2024 and our Current
Reports on Form 8-K.
You are cautioned not to place undue reliance on CVS Health's
forward-looking statements. CVS Health's forward-looking statements
are and will be based upon management's then-current views and
assumptions regarding future events and operating performance, and
are applicable only as of the dates of such statements. CVS Health
does not assume any duty to update or revise forward-looking
statements, whether as a result of new information, future events,
uncertainties or otherwise.
Media contact
Ethan Slavin
860-273-6095
Ethan.Slavin@CVSHealth.com
Investor contact
Larry McGrath
800-201-0938
InvestorInfo@CVSHealth.com
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SOURCE CVS Health