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CVS/Pharmacy Gets New President

Mark Cosby will start October 1

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CVS Caremark Corp. (Woonsocket, R.I.) has appointed Mark Cosby, former president of stores at Macy's Inc. (Cincinnati) as president of CVS/pharmacy, a role that was previously held by ceo Larry Merlo.

In his new role, Cosby will be responsible for all aspects of the company's retail business including its more than 7200 retail stores and 19 distribution centers, as well as retail merchandising, supply chain, marketing, real estate, front store and pharmacy operations.

“His valuable experience at major retailers in operations and strategic planning makes him an excellent choice to lead our retail business going forward,” says Merlo, who became ceo in March. “I am confident that Mark will bring a strong vision, great energy, and new ideas to CVS/pharmacy as we continue to refine our model and introduce innovations that position us for ongoing success and industry leadership.”

In his most recent position, Cosby was responsible for all Macy's store operations and support functions nationwide. His career also includes roles as president of full-line stores for Sears Roebuck & Co. and chief development officer of Yum Brands Inc.

Earlier this month, CVS reported pharmacy same store sales rose 2.6 percent in the second quarter and front-of-the-store same-store sales grew 0.8 percent.
 

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