CVS has named Helena Foulkes as president of CVS/pharmacy, effective Jan. 1. She succeeds Mark Cosby, who is stepping down on Dec. 31.
Cosby has led the company’s retail business since October 2011, including its more than 7,600 retail stores, 19 distribution centers and retail merchandising, supply chain, marketing, real estate, front store and pharmacy operations.
“Mark is an outstanding operator and retailer who has brought many positive changes to the organization in the short time that he has been with CVS/pharmacy,” stated president and CEO Larry Merlo. “I greatly appreciate his contributions to our retail operations and wish him the best of luck in his future endeavors.”
Company veteran Foulkes has held increasingly large and impactful roles in the company’s retail business, including merchandising, marketing and store operations. Since the merger with Caremark, Foulkes has led several integrated product/service teams and was instrumental in facilitating the evolution of the company’s overall health care strategy. She has also led the company’s work in transforming the digital experience for consumers in health care.
Foulkes, who has been with the company for more than 20 years, most recently served as chief health strategy and marketing officer, responsible for corporate strategy and enterprise marketing, government relations and communications.
“Helena is an open-minded and forward-thinking strategist, who has developed a reputation for successfully building product and business model innovations that drive growth,” stated Merlo. “Her industry track record includes leading innovations such as ExtraCare, the largest retail loyalty program in the country with approximately 70 million active cardholders. More recently Helena has helped bring groundbreaking pharmacy health care programs to market, including Maintenance Choice and Pharmacy Advisor. She has help positions across the enterprise and understands how to meet the needs of both consumers and clients while delivering bottom line results.”
“I am honored to lead our talented retail team. CVS Caremark has the unique ability to build consumer-centric health care solutions that improve access, control costs and lead to better health outcomes,” stated Foulkes, who, in her new role, will also maintain her responsibility for the company’s enterprise digital, brand and communications functions. “I am excited to take on this new role and am committed to driving CVS/pharmacy’s continued strong growth. At the same time, I look forward to working closely with our enterprise leadership team to continue to introduce innovations that meet the changing needs of clients, patients and payors while driving growth for CVS Caremark.”