CVS Health has appointed David Joyner as the new CEO, replacing Karen Lynch in an effort to improve the struggling company’s performance. Joyner, who previously held positions at CVS Caremark and CVS Health, has a long history with the company and its acquisitions. Lynch stepped down in agreement with the company’s board. Following the announcement, CVS Health’s shares dropped by 9%, bringing the year-to-date slide to 28%. In comparison, the S&P 500 index has risen by 23%. Joyner’s appointment comes as CVS Health aims to turnaround its operations and address ongoing challenges in the healthcare industry.
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CVS Health replaces CEO as it tries to mount a turnaround
