CVS names new finance, medical chiefs
CVS Health is adding two new faces to its C-suite.
The retail pharmacy chain has named Brian Newman executive VP and chief financial officer designate, effective April 21. He will succeed current chief financial officer, Tom Cowhey, who will transition to serve as a strategic advisor to president and CEO David Joyner, effective May 12.
Newman was most recently executive VP and CFO of United Parcel Service (UPS). In his nearly five years in the role, he is credited with helping lead the company through COVID-19 pandemic. Before joining UPS, he spent 26 years with PepsiCo and served in finance leadership roles across Europe, Asia, and North and South America. He also served as executive vice president for PepsiCo's global operations and as chief strategy officer.
"It is an honor to join CVS Health, its leadership team, and the finance organization at such an important time in health care," said Newman. "I am confident in our continued success and growth potential, and I look forward to putting my experience to work as we help our clients, customers, and colleagues succeed."
In addition to incoming CFO change, Amy Compton-Phillips, M.D., has been tapped as the company's new executive VP and chief medical officer, effective May 19. She will also report to Joyner.
Dr. Compton-Phillips was most recently chief physician executive of Press Ganey, a health care performance improvement company. She has an extensive background in directing patient care programs and leading health care organizations to broad-based improvements.
Prior to Press Ganey, Dr. Compton-Phillips was the president and chief clinical officer at Providence Health & Services, and was responsible for clinical operations and care including improving health, care, and value outcomes. From 1985 to 2007, she held positions of increasing responsibility at Kaiser Permanente.
"As a clinician, I see the best our health care system can do, and as an administrator, I have seen the challenges that stop us from doing our best all the time," said Dr. Compton-Phillips. "CVS Health has every opportunity to deliver simply better health, and that starts with the patient-medical professional relationship. I am committed to making sure we do all we can to improve the experience and outcome of every person we serve."
[READ MORE: Report: CVS Health to open small-store format focused on pharmacy]
As of Dec. 31, 2024, CVS Health operated more than 9,000 retail pharmacy locations and more than 1,000 walk-in and primary care medical clinics.
