Updated March 24 at 6:27pm

Foulkes to succeed Cosby as president of CVS/pharmacy

CVS Caremark Corp. announced Monday that Helena B. Foulkes will replace Mark S. Cosby as president of CVS/pharmacy.

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Foulkes to succeed Cosby as president of CVS/pharmacy


WOONSOCKET – CVS Caremark Corp. announced Monday that Helena B. Foulkes will replace Mark S. Cosby as president of CVS/pharmacy.

In her new role, which she will assume on Jan. 1, Foulkes will be responsible for all aspects of the company’s retail business, including its more than 7,600 retail stores, 19 distribution centers and retail merchandising, supply chain, marketing, real estate, front-store and pharmacy operations.

Foulkes, 49, most recently served as the company’s chief health care strategy and marketing officer, responsible for corporate strategy and enterprise marketing, government relations and communications. Following her promotion, she will maintain her current responsibility for the company’s enterprise digital, brand and communications functions.

“Helena is an open-minded and forward-thinking strategist, who has developed a reputation for successfully building product and business model innovations that drive growth, and for bringing together thought leaders both inside and outside the company,” said Larry J. Merlo, president and CEO of CVS Caremark, in a statement. “She has held positions across the enterprise and understands how to meet the needs of both consumers and clients while delivering bottom-line results.”

Throughout her more than 20-year tenure with CVS Caremark, Foulkes has filled various leadership roles in the company’s retail business, including in merchandising, marketing and store operations. Since the merger with Caremark in 2007, she has led several integrated product/service teams and helped develop the company’s overall health care strategy. Foulkes also led the company’s work to improve digital services for health care consumers.

Earlier this year, Providence Business News named Foulkes an industry leader in the creative-services sector for its 2013 Business Women Awards program.

“As health care continues to evolve and we drive further differentiation through our integrated pharmacy model, we need a leader who truly understands the health care consumer and the opportunities we can deploy to attract and retain customers and generate strong, longer-term growth,” Merlo said.

Foulkes’ industry track record includes the development of ExtraCare, the largest retail loyalty program in the country, with approximately 70 million active cardholders, Merlo said. More recently, she helped bring to market pharmacy health care programs including Maintenance Choice and Pharmacy Advisor.

“I am excited to take on this new role and am committed to driving CVS/pharmacy’s continued strong growth,” said Foulkes in a statement. “At the same time, I look forward to working closely with our enterprise leadership team to continue to introduce innovations that meet the changing needs of clients, patients and payors, while driving growth for CVS Caremark.”

Foulkes succeeds Mark S. Cosby, who took over leadership of company’s retail business from Merlo in October 2011.

“Mark is an outstanding operator and retailer who has brought many positive changes to the organization in the short time that he has been with CVS/pharmacy,” said Merlo. “I greatly appreciate his contributions to our retail operations and wish him the best of luck in his future endeavors.”

A CVS spokesperson was not immediately available to provide further details about Cosby’s departure from the company.


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