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Fortune

Emma Hinchliffe, Nina Ajemian

CVS ousts CEO Karen Lynch

Karen Lynch CVS Fortune United States Shawn Tully Alyson Shontell Aetna Fortune 500 MPW

CVS CEO Karen Lynch talks with Fortune editor in chief Alyson Shontell at Fortune's 2023 MPW Summit in California on Oct. 9, 2023. (Credit: Stuart Isett—Fortune)

Good morning! The New York Liberty win their first WNBA championship, Emily Weiss reflects on 10 years of Glossier, and the top female CEO in the Fortune 500 is out of a job. Have a mindful Monday.

- Out of office. For three years in a row, Karen Lynch was ranked No. 1 on Fortune's Most Powerful Women list. Her job as CEO of CVS Health earned her that title, and she earned the company one as well: the largest Fortune 500 business run by a female CEO, with $357.8 billion in revenue last year. But this year, her power started to slip; she fell from No. 1 to the No. 2 spot on the MPW list published earlier this month as CVS waded through a rough year.

Then, on Friday, Lynch lost her job in a surprise ouster by CVS's board. As my colleague Shawn Tully wrote for Fortune, her tenure "appeared to start brilliantly, then unraveled fast."

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