CVS Pharmacy New President

CVS Pharmacy New President

On November 23, 2020, CVS Health Corporation announced that Neela Montgomery has been named Executive Vice President and President of CVS Pharmacy/Retail, effective November 30, 2020. Montgomery will oversee the company’s 10,000 pharmacies across the United States.

“Neela is a seasoned retail industry leader with extensive digital and e-commerce experience,” said Karen S. Lynch, who will become President and CEO of CVS Health in February 2021. “She brings deep consumer insights that will allow us to better anticipate consumers’ changing needs and deliver even more value to our customers in local, personalized ways. Neela is well-positioned to lead CVS Pharmacy today and into the future.”

CVS Health Services

CVS Health is a health care company. In this company working nearly 300,000 employees. It has more than 9,900 retail locations and another 68,000 retail network pharmacies, as well as about 1,100 MinuteClinic walk-in clinic locations. According to the company, about 70 percent of the U.S. population lives within 3 miles of a CVS Pharmacy. Formerly CVS Caremark Corporation, the company was rebranded as CVS Health in 2014, and its health-focused business includes pharmacy services, retail, in-store health clinics, and its own Digital Innovation Lab aimed at creating smart devices and apps to improve healthcare.

By 2020, CVS expects all its marketing and promo materials to be fully transparent. The retail giant announced it would no longer alter any beauty imagery for its stores, sites, or even social media. Instead, the company intends to truthfully demonstrate the model’s shapes, sizes, skin, eye color, and wrinkles to better reflect realistic depictions of both women and men.

The company reported an 8.3 percent revenue increase in the first quarter of 2020 with $66.8 billion. Despite the economic uncertainty caused by the coronavirus pandemic, the company’s leadership didn’t change its expectations for the year as of early May.

CVS Pharmacy President Neela Montgomery

“Montgomery, currently a Board Partner at venture capital firm Greycroft, most recently served as chief executive officer of furniture retailer Crate & Barrel and has nearly 20 years of global retail experience. As CEO of Crate & Barrel, she transformed its online sales channel to more than 50 percent of the company’s total revenue. In 2019 she was named to the “Top Women in Retail” list by the Women in Retail Leadership Circle. Prior to Crate & Barrel, she served as Group Executive Board Member of the Otto Group, a global retail and services group and one of the leading e-commerce retailers in the world,” – reported CVS Health.

Besides that, Neela Montgomery also served as UK General Merchandise Director at Tesco PLC, the British multinational retailer and a top 10 international retailer.

“I am thrilled to lead CVS Pharmacy with its 190,000 dedicated colleagues and join such an outstanding leadership team,” said Montgomery. “CVS Pharmacy plays a unique and important role in the health needs and lives of Americans. Increasingly these health care touch points will be digital, virtual and in-person. This is a fantastic opportunity to help accelerate the company’s bold vision to deliver consumer health services in the community and ensure CVS Pharmacy plays an essential role in customers’ health moments.”

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