CVS Health Raises Guidance, Names New CEO

By Sheridan Fifer

CVS Health's mission to become a health service company is paying off in the pandemic, as customers come into stores for prescriptions, tests, flu shots, and over the counter items. The healthcare company reported that its third quarter revenue grew 3.5% and raised its earnings guidance for the year 2020. It also announced a leadership change. Karen Lynch, currently executive vice president of CVS Health and president of Aetna (acquired by CVS in 2018), will replace Larry Merlo as CEO in February. Merlo will serve on the CVS board of directors.

The company cautioned that there was still some uncertainty because of the Covid-19 pandemic.

Read the full story at CNBC.