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CVS Caremark (NYSE: CVS | Quote | Chart | News | PowerRating) today announced the appointment of David M. Denton to the new role of Executive Vice President and Chief Financial Officer, effective January 1, 2010. Denton will succeed David Rickard who announced in February of this year his intention to retire as CFO.
Denton, currently CVS Caremark's SVP, Controller and Chief Accounting Officer, brings nearly twenty years of financial management experience with a focus on the health care and retail drug sectors to his new position. Since joining the company in 1999, he has assumed positions of increasing responsibility including senior finance positions within CVS/pharmacy and CVS Caremark and role of Chief Financial Officer for PharmaCare, a subsidiary of CVS. The selection of Denton as EVP, Chief Financial Officer caps an eight month search that included both internal and external candidates.
"I'm extremely pleased to announce the appointment of Dave Denton as CVS Caremark's new Chief Financial Officer," said Tom Ryan, Chairman, President and CEO. "Dave's broad financial experience, industry expertise and deep understanding of our company will make him an outstanding CFO. His passion for our customer coupled with his value-based leadership skills will help him excel in his new role."
Previously, Denton was a consultant with Deloitte & Touche where his clients included major health care organizations. He has also held management positions at Blue Cross Blue Shield of Florida and Health Options, Inc. Dave earned his M.B.A. from the Babcock School of Management at Wake Forest University and his bachelor's degree from Kansas State University.
Replacing Denton in his current role of Controller and Chief Accounting Officer is Laird Daniels. Daniels, who joined CVS Caremark in 1997, was most recently Vice President of Finance and Retail Controller for CVS/pharmacy. Daniels, a certified Public Accountant, has nearly two decades of financial management experience. He is a graduate of the University of Connecticut and earned an M.B.A. from the F.W. Olin Graduate School of Business at Babson College.
About CVS Caremark
CVS Caremark is the largest provider of prescriptions in the nation. The Company fills or manages more than 1 billion prescriptions annually. Through its unmatched breadth of service offerings, CVS Caremark is transforming the delivery of health care services in the U.S. The Company is uniquely positioned to effectively manage costs and improve health care outcomes through its more than 7,000 CVS/pharmacy and Longs Drugs stores; its Caremark Pharmacy Services division (pharmacy benefit management, mail order and specialty pharmacy); its retail-based health clinic subsidiary, MinuteClinic; and its online pharmacy, CVS.com. General information about CVS Caremark is available through the Investor Relations section of the Company's Web site, at www.cvscaremark.com/investors, as well as through the press room section of the Company's Web site, at www.cvscaremark.com/newsroom.
SOURCE: CVS Caremark
Media Contact: CVS Caremark Eileen Howard Dunn, 401-770-4561 Senior Vice President Corporate Communications or Investor Contact: CVS Caremark Nancy Christal, 914-722-4704 Senior Vice President Investor Relations
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