In 2023, CVS Health has been restructuring its leadership roles and reducing staff headcount as it looks to drive its value-based mission.
Most recently, CVS Health CFO and President of Health Services Shawn Guertin said he would be taking a leave of absence from the company due to family reasons.
The company appointed Senior Vice President of Corporate Finance Tom Cowhey to interim CFO and Oak Street Health CEO Mike Pykosz to interim president of health services to his divided role.
This comes shortly after Mr. Guertin added the title of president of health services to his role on Sept. 7. During that same time, the company announced several other executive and leadership changes to its team.
For example, Brian Kane was named executive vice president and Aetna president, and Chief Pharmacy Officer Prem Shah, PharmD, became the sole president of pharmacy and consumer wellness for the company.
In addition to switching up roles in its executive team, CVS has also been cutting its employee headcount.
On Aug. 1 the company said that it would be eliminating 5,000 "non-customer-facing positions." The layoffs, according to WARN documents filed in August, took place across at least nine states, including Illinois, Rhode Island, Connecticut, Florida and New Jersey.
The job cuts represent about 2 percent of CVS' overall workforce of about 300,000 people nationwide, with many of the layoffs becoming effective in October and November.