CVS Well being Inc (NYSE:CVS) on Tuesday named Brian Newman as government vp and chief monetary officer designate, efficient April 21.
He’ll succeed present chief monetary officer Tom Cowhey, who will transition as a strategic advisor to president and chief government officer David Joyner, efficient Could 12.
Newman was most just lately government vp and chief monetary officer of United Parcel Service Inc (NYSE:UPS).
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Earlier than becoming a member of UPS, Newman spent 26 years with PepsiCo, the place he held finance management roles throughout Europe, Asia, and North and South America. He additionally served as government vp for PepsiCo’s world operations and chief technique officer. Newman started his profession as an funding banker at PaineWebber.
Amy Compton-Phillips, the corporate’s new government vp and chief medical officer, efficient Could 19, can even report back to David Joyner.
Dr. Compton-Phillips was most just lately chief doctor government of Press Ganey, a well being care efficiency enchancment firm.
Previous to Press Ganey, Dr. Compton-Phillips was the president and chief medical officer at Windfall Well being & Companies, a well being care system, accountable for medical operations and care together with enhancing well being, care, and worth outcomes delivered by the system’s hospitals, clinics, and caregivers. From 1985 to 2007, she held positions of accelerating duty at Kaiser Permanente.
In February, CVS Well being reported fourth-quarter gross sales of $97.71 billion, beating the consensus of $97.19 billion.
Complete revenues elevated 4.2%, pushed by progress within the Well being Care Advantages and Pharmacy & Shopper Wellness segments, partially offset by a decline within the Well being Companies section.
The Medical profit ratio elevated from 88.5% to 94.8% in comparison with the prior 12 months, pushed by elevated utilization, the unfavorable impression of the beforehand disclosed decline within the firm’s Medicare Benefit star scores for the 2024 fee 12 months, and the impression of upper acuity in Medicaid.
In October 2024, CVS Well being appointed longtime government David Joyner as its new president and CEO, changing Karen Lynch amid the corporate’s ongoing monetary struggles.
In November 2024, CVS Well being appointed Prem Shah because the Group President, accountable for the operational efficiency throughout CVS Caremark, CVS Pharmacy, and the corporate’s Healthcare Supply companies.