investing

Former CVS CEO Ryan joins private equity firm

BLOOMBERG NEWS FILE PHOTO/DANIEL BARRY
THOMAS M. RYAN, former chairman and CEO of CVS Caremark Corp., has taken on a role with a private equity firm.
Posted 10/13/11

BOSTON – Thomas M. Ryan, the former chairman and CEO of CVS Caremark Corp., has taken on a role with a private equity firm.

Ryan will advise Advent International on investment opportunities in retail and health care companies worldwide through its Operating Partner Program.

The program has more than 80 senior industry executives who “typically assist in activities such as finding attractive investment opportunities, conducting due diligence, and creating and driving value creation plans for Advent’s portfolio companies,” Advent said in a news release on Thursday. Advent, founded in 1984, has offices in 17 countries; it has raised $26 billion in private equity capital.

“Tom is simply one of the world’s top corporate leaders. He is tireless in his pursuit of new ideas, innovation and growth. That drive, combined with his expertise in the retail and health care sectors, complements Advent’s time-tested approach to value creation,” said David Mussafer, Advent managing partner.

Ryan currently serves on the board of directors of Yum! Brands and previously served on the board of Bank of America Corp. and Reebok International. He joined CVS Caremark in 1974 as an in-store pharmacist and worked his way up through the company to become the CEO in 1994 and took on the role of chairman in 1998.

Ryan received his bachelor’s degree at the University of Rhode Island’s College of Pharmacy; he is currently a trustee of his alma mater.

“Advent has a proven ability to tackle complex situations and deliver long-term value through operational enhancements and earnings growth, even in low-growth environments. I am delighted to join a firm with a solid track record of success. Advent is a highly focused global organization, and I’m excited to now be part of the team,” Ryan said.

Calendar
PBN Hosted
Events

Please join PBN on September 10th for the 3rd Annual Fastest Growing & Innovative Companies program at Rosecliff Mansion in Newport. Seating is limited so be sure to register early.
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement