CVS Health CEO Karen Lynch is stepping down after nearly four years amid shareholder pressure and a significant drop in stock value, which has fallen nearly 26% this year. David Joyner, a company veteran, will succeed her as the company navigates challenges including multiple profit forecast cuts and rising medical costs.
CVS Health is considering a potential break-up of its retail and insurance units as it seeks to improve its performance amid investor pressure. Discussions with financial advisers and the board are ongoing, with options including the future of its pharmacy benefits manager unit. The company faces challenges, including rising medical costs and a significant drop in share value this year, prompting a $1 billion cost-cutting plan.
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