CVS Health reveals plan for chief financial officer transition; Promotes new chief medical officer

CVS Health has announced significant changes in its executive leadership team by appointing a new Chief Financial Officer and Chief Medical Officer. Brian Newman has been appointed as the Executive Vice President and Chief Financial Officer designate, effective April 21, succeeding Tom Cowhey. The latter will transition to become a strategic advisor to President and Chief Executive Officer David Joyner from May 12 onwards. Amy Compton-Phillips, MD, will be joining as the new Executive Vice President and Chief Medical Officer, starting May 19, reporting directly to David Joyner. CVS Health expects financial results to surpass prior guidance for 2025, based on year-to-date performance up to February. However, final evaluations for the full year will hinge on the closure of first-quarter financial procedures and related reviews.

CEO David Joyner expressed confidence in the incoming leaders, stating that Brian and Amy would further bolster the positive momentum generated over the last few months. While acknowledging Tom Cowhey’s contributions to CVS Health during a challenging period, he thanked him for positioning the company for long-term growth opportunities. Brian Newman emphasized his eagerness to contribute to CVS Health’s mission, leveraging his vast experience to navigate the evolving landscape of healthcare. Dr. Compton-Phillips stressed the importance of improving patient outcomes by enhancing the patient-medical professional relationship.

Brian Newman brings a wealth of experience to CVS Health, having served as the Executive Vice President and Chief Financial Officer at United Parcel Service. He significantly contributed to navigating UPS through the challenges posed by the COVID-19 pandemic. Newman’s 26-year tenure at PepsiCo in various leadership positions across different regions worldwide, along with his background in investment banking, positions him well for his new role. Dr. Amy Compton-Phillips, the former Chief Physician Executive of Press Ganey, boasts a robust healthcare background focused on enhancing patient care programs and leading organizational improvements. Her previous roles at Providence Health & Services and Kaiser Permanente equipped her with valuable insights into delivering quality healthcare.

CVS Health is a leading health solutions provider, with over 9,000 retail pharmacy locations and 1,000 walk-in clinics. The company also manages an extensive pharmacy benefits portfolio serving around 90 million members. In addition, CVS Health operates senior pharmacy care services, catering to over 800,000 patients annually. The organization’s health insurance products and services reach over 36 million individuals, further emphasizing its commitment to delivering comprehensive healthcare solutions to a diverse range of consumers.

In conclusion, the appointment of Brian Newman and Dr. Amy Compton-Phillips reflects CVS Health’s strategic approach in strengthening its leadership team to drive continued growth and success. Their combined expertise and vision align seamlessly with CVS Health’s overarching mission to enhance healthcare delivery and patient outcomes for the millions of Americans it serves.