When CVS Health abruptly announced that high-profile CEO Karen Lynch was leaving immediately, to be replaced by company executive David Joyner, another announcement followed in smaller type: “Roger Farah Named Executive Chairman of the Board.”
It doesn’t sound exciting, and it’s unlikely many people recognized Farah’s name, but investors should pay attention. At least strictly speaking, Farah, 71, has become the most powerful executive at this troubled company. His role in CVS’s turnaround attempt will probably be significant, and if few people know his name, that will be fine with him. When it’s suggested that his career consists largely of high performance and a low profile, he responds, “Thank you—that’s my strategy.”
