CVS Health drops 3 board seats

CVS Health will drop three directors from its 16-member board, including former Aetna CEO Mark Bertolini, the company announced Feb. 3.

The changes are being made "to further align with corporate governance best practices," CVS said. The three departing board members will not be replaced.

The changes will go into effect after the company's annual shareholder meeting. The date of that meeting has not been set. Last year's meeting was in May.

Richard Swift, former chairman of the board, director of CVS Health and CEO of Foster Wheeler, has reached the mandatory retirement age.

Richard Bracken, former chairman and CEO of Nashville, Tenn.-based HCA Healthcare, will retire from the board to pursue personal interests.

Mr. Bertolini, who became a director when CVS Health acquired Aetna, will not continue as a board member after the annual meeting. CVS said the integration with Aetna has been successful.

"We want to thank each of these highly accomplished individuals for their service to the company and wish them all the best in the future," said board chairman David Dorman.

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