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CVS Caremark names new CFO

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WOONSOCKET, R.I. CVS Caremark announced the appointment of David Denton to the new role of EVP and CFO, effective Jan. 1, 2010. Denton will succeed David Rickard, who announced in February of this year his intention to retire as CFO.

Denton, currently CVS Caremark’s SVP controller and chief accounting officer, brings nearly twenty years of financial management experience with a focus on the healthcare and retail drug sectors to his new position. Since joining the company in 1999, he has assumed positions of increasing responsibility including senior finance positions within CVS/pharmacy and CVS Caremark and role of CFO for PharmaCare, a subsidiary of CVS. The selection of Denton as EVP, CFO caps an eight-month search that included both internal and external candidates.

“I’m extremely pleased to announce the appointment of Dave Denton as CVS Caremark’s new chief financial officer,” said Tom Ryan, chairman, president and CEO. “Dave’s broad financial experience, industry expertise and deep understanding of our company will make him an outstanding CFO. His passion for our customer coupled with his value-based leadership skills will help him excel in his new role.”

Replacing Denton in his current role of controller and chief accounting officer is Laird Daniels. Daniels, who joined CVS Caremark in 1997, was most recently VP finance and retail controller for CVS/pharmacy.

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