Alia Paavola – February 2, 2020
Former Aetna CEO Mark Bertolini said he is
being pushed off the board of CVS Health before the company's integration with
Aetna is fully complete, according to The Wall Street
Journal.
CVS announced Feb. 3 that it will drop three
directors from its 16-member board to "further align with corporate
governance best practices."
Mr. Bertolini, who joined the board in November
2018 after CVS finalized its acquisition of Aetna, is one of the directors who
will depart.
CVS said Mr. Bertolini would leave
"following the successful integration of the Aetna business."
But Mr. Bertolini told the Journal that
the integration between the two organizations isn't complete. He also said he
was willing to stay on the board.
"I was willing to continue to serve on
the board of directors in support of the most transformative effort in
healthcare for our nation. However, the board thought otherwise," Mr.
Bertolini told the Journal. He added that the
"integration is far from over."
Richard Swift, former chairman of the board,
director of CVS Health and CEO of Foster Wheeler and Richard Bracken, former
chairman and CEO of Nashville, Tenn.-based HCA Healthcare, also will leave the
board.
The board changes will go into effect after
the company's annual shareholder meeting. The date of that meeting has not been
set. Last year's meeting was in May.
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