CVS Health CEO Karen Lynch has resigned from her position as company shares have dropped by 19% and the national drugstore chain is facing challenges. David Joyner will be taking over as the new CEO, aiming to guide the health care giant through a tough environment of increasing medical costs.
In August, CVS revised its financial expectations for the third time as major pharmacy chains are trying to adapt to a rapidly changing landscape, dealing with online competition and other challenges. Joyner, who previously served as the executive vice president of CVS Health and president of CVS Caremark, brings 37 years of experience in health care and pharmacy benefit management to his new role.
