CVS ousts CEO amid tanking shares, activist pressure: ‘Brewing for some time'
CVS Health(CVS) New York Post·2024-10-18 23:11
CVS Health on Friday replaced CEO Karen Lynch with David Joyner, a CVS veteran who retired before returning to the company last year, after investors including activist Glenview Capital pressured the company to improve its stagnant share price.It also withdrew its 2024 forecast and gave an outlook for third-quarter earnings far below analyst estimates.CVS shares were down 7% at $58.64 on Friday. 3 CVS shares dropped on Friday as it replaced CEO Karen Lynch, who took over in 2021. APThey are down by nearl ...