CVS Health an American healthcare company that owns CVS Pharmacy, a retail pharmacy chain announced Karen Lynch, Executive Vice President at CVS Health and president of its Aetna health insurance subsidiary, as its next President and CEO. Lynch is taking over from Larry Merlo, who is retiring after a decade leading the Woonsocket, R.I.-based company.

Plans call for Lynch to take the CEO reins on Feb. 1, 2021 and join the CVS board of directors. At that time, Merlo will shift to a strategic adviser role to help in the leadership transition, CVS said. He also will continue to serve on the board until the next CVS annual shareholders meeting in May 2021. Merlo is slated to officially retire on May 31, 2021.

“Karen is a seasoned health care expert who knows our business. She brings a relentless focus on the customer, a strong track record of driving growth and innovation, and proven transformational leadership, all of which position her well for success,” CVS Health Chairman David Dorman said in a statement. “Our board of directors believes that Karen is the right leader to guide CVS Health into its next era of growth as the company continues its transformation.”

Lynch joined CVS in November 2018 upon the closing of the company’s $70 BN merger with Aetna. She retained her post as Aetna president, which she held since January 2015, and added the title of executive vice president at CVS Health.

In her current role, Lynch leads Aetna’s strategy to deliver consumer-focused health care services and oversees the development of diversified enterprise health care solutions that leverage CVS Health’s assets, which include retail, specialty and long-term care pharmacies; in-store clinics; and over-the-counter health care products. Before coming to Aetna in 2012, she was president of Magellan Health Services and held various senior executive positions at health insurer Cigna.

CVS noted that Lynch played a pivotal role in the integration of Aetna, including the launch of new products and services following the merger; growing Medicare Advantage membership; and driving the company’s HealthHUB health center strategy. She has been named to Business Insider’s “Top 100 People Transforming Business” and, from 2016 to 2020, was on Fortune’s “Most Powerful Women in Business” list.

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