CVS Health Corp. has added Larry Robbins, the founder of Glenview Capital Management, to its board of directors in response to pressure from the activist firm for corporate changes.
Robbins is one of four new members joining the board, which will now have 16 directors. The announcement comes as CVS aims to address concerns raised by shareholders, and the company"s stock saw a 1.4% increase in pre-market trading following the news.
This move reflects CVS"s ongoing efforts to improve its governance and meet investor demands for strategic adjustments.