WHAT IT MEANS AND WHY IT'S IMPORTANT — The year 2011 has shaped up to be quite the year for CVS Caremark, with Larry Merlo taking the helm following the retirement of Tom Ryan, longtime CVS/pharmacy executive Mike Bloom resigning and Judy Sansone assuming responsibility for the merchandising organization at CVS/pharmacy. Well, the year isn't over yet, and Grant Pill — who is regarded as a bright, young merchant — now has responsibility for one of the most critical areas of CVS' business.
(THE NEWS: CVS Caremark's Jim Trappani steps down. For the full story, click here)
Pill has taken on the role of VP merchandising for OTC healthcare and store brands. In light of Pill's new responsibilities, industry members can expect to see some innovation out of this group.
Meanwhile, Jim Trappani, VP merchandising for health care and multicultural, has decided to step down, and there's been no official announcement as of yet as to where Trappani will land next. Could he land at a major dollar store chain like many other drug executives?
In recent years, there's been an influx of drug executives flocking to the dollar store channel. It's only been about a month since Bloom — Trappani's former boss at CVS — left CVS to take the president and COO position at Family Dollar Stores. Meanwhile, several industry veterans have landed at Dollar General, such as Rick Dreiling, who serves as chairman and CEO, and former Longs Drug Store executives Todd Vasos and John Flanigan. Given the trend, it wouldn¹t be unimaginable for Trappani to follow suit, but for now, the industry will have to wait and see.