Shawn Guertin. Image courtesy of CVS Health
CVS Health, the healthcare company behind CVS Pharmacy, CVS Caremark, and insurance provider Aetna, has picked its new Chief Financial Officer.
The company has appointed former Aetna CFO Shawn Guertin as its new EVP and CFO, effective May 28, 2021. He succeeds Eva Boratto, who is leaving the company after a successful 11-year career.
In Guertin’s new role he will be responsible for all aspects of the company's financial strategy and operations, which include accounting and financial reporting, investor relations, mergers and acquisitions, treasury and capital planning, investments, risk management, tax, budgeting and planning, and procurement.
"Shawn is an extraordinary leader with a proven track record of developing financial strategies to help companies drive transformation," CEO Karen Lynch said in a press release. "His deep and broad health care experience will be invaluable and I'm confident he will play an integral role as we transform CVS Health to become an even bigger part of consumers' everyday health."
Guertin has spent eight years at Aetna where he was EVP, CFO, and Chief Enterprise Risk Officer until 2019. In this position, he helped Aetna grow through expansion and acquisitions and was a key leader in the 2018 merger with CVS Health in 2018. Prior to that, he was the Chief Actuary and CFO at Coventry Health Care, which was acquired by Aetna in 2012, and held leadership positions at UnitedHealthcare and The Travelers. He currently serves on the board of TriNet and DaVita.
In the first quarter of 2021, CVS reported a 3.5% bump to $69 billion in total revenues compared to $66.7 billion in the prior year. Much of this boost can be attributed to growth in the Pharmacy Services and Health Care Benefits segments. Executives said that CVS has seen an increase in customers at its retail locations as consumers come to the chain for COVID-19 vaccines.
"This is an exciting time for CVS Health," Guertin stated. "No other company has both the strong business and the customer reach and relationships to transform health care at scale. The pandemic has changed how Americans want to receive care and I'm excited to help CVS Health lead in a rapidly evolving marketplace."
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