30:
172:, and joined CVS Pharmacy in 1990, when Peoples was acquired by CVS. He served as senior vice president of stores (January 1994 to March 1998), Executive Vice President – Stores (March 1998 to January 2007), executive vice president of CVS Caremark (January 2007 to May 2010), president of CVS Pharmacy (January 2007 to January 2010), and chief operating officer (May 2010 to March 2011). He was appointed
254:
In 2015, it was revealed that Merlo had the highest CEO-to-average-employee pay ratio of any
American company by Fortune Magazine. CVS has also been criticized under Merlo's tenure as CEO for understaffing, not allowing pharmacy staff to take breaks, and underfunding critical aspects of daily
258:
Additionally, claims of CVS using unethical and strong arm business practices during Merlo's tenure have been made. Several states have, in recent years, looked into the use of spread pricing and patient steering by CareMark, CVS's pharmacy benefits manager. One of the most comprehensive
267:) were charging Ohio taxpayers 3-6 times the normal rate. The series also led to new state Medicaid rules and to proposed legislation aimed at tightening regulations on PBMs and controlling prescription drug prices.
439:
234:
In 2016, Merlo was named
University of Pittsburgh's 2016 Distinguished Alumni Fellow, which recognizes graduates with records of professional achievement and community service.
477:
690:
179:
In 2014, after CVS refined its purpose of "helping people on their path to better health", Merlo announced that CVS would be the first major retail pharmacy to discontinue
379:
1045:
187:,” which are walk-in health clinics, from 800 locations to 1,500 by 2017. In 2017, Merlo was also behind the decision that CVS would limit access to opioid painkillers.
1040:
157:
713:
930:
1050:
429:
542:
197:
Over the course of his tenure, CVS stock rose from $ 33.21 to $ 72.08, a 217% gain in share price. Comparatively, the S&P 500 grew 280%.
574:
779:
284:
299:
657:
992:
517:
368:
624:
467:
680:
401:
344:
29:
228:
190:
Merlo announced his retirement from CVS on
November 6, 2020 with January 31, 2021 being his last day. He was succeeded by
243:
1002:
849:
807:
264:
997:
905:
246:, with his college sweetheart, Lee Ann. They were married in 1978. Together they have a daughter, Kristen Merlo.
966:
224:
65:
956:
772:
620:
206:
116:
374:
173:
149:
1035:
895:
263:
series ran from
January 2018 - April 2020 and prompted a state-sponsored study which found that PBMs (
1055:
915:
900:
812:
765:
210:
120:
259:
investigations began as an in-depth journalistic investigation by Ohio's
Columbus Dispatch. Their
940:
885:
652:
547:
512:
336:
552:
309:
890:
859:
718:
647:
507:
434:
183:
sales in all of its stores. He also announced that CVS would attempt to expand its line of “
616:
205:
Merlo serves on the board of the
National Association of Chain Drug Stores (NACDS) and the
1020:
822:
685:
304:
976:
741:"Side Effects: Dispatch investigative series on the rising costs of prescription drugs"
472:
468:"Meet Larry Merlo, a Guest of the First Lady, Michelle Obama at the State of the Union"
406:
191:
77:
1029:
961:
106:
925:
910:
839:
834:
829:
817:
184:
169:
102:
740:
880:
875:
844:
588:
156:, and graduated from Charleroi Area High School in 1973. He graduated from the
788:
602:
340:
194:, then Executive Vice President, CVS Health and President, Aetna at the time.
153:
137:
98:
42:
854:
714:"State Report: Pharmacy Middlemen Reap Millions From Tax-Funded Medicaid"
508:"CVS Health CEO Says Purpose is at the Center of Company's Reinvention"
180:
935:
920:
802:
489:
761:
757:
575:"CVS Health announces CEO transition effective February 2021"
681:"Union alleges overwork and understaffing at CVS pharmacies"
648:"This CEO Has The Highest Pay Compared To His Workers"
985:
949:
868:
795:
430:"CVS chief Larry Merlo earned $ 32 million in 2014"
112:
92:
87:
71:
59:
40:
20:
367:
285:"CVS Caremark Says Merlo Will Become CEO in March"
209:’s board of trustees. He is also a member of the
136:(born 1956) is the former president and CEO of
773:
461:
459:
457:
8:
331:
329:
327:
158:University of Pittsburgh School of Pharmacy
780:
766:
758:
28:
17:
537:
535:
55:March 1, 2011 – January 31, 2021
1046:People from East Greenwich, Rhode Island
369:"The Revolution at the Corner Drugstore"
223:Merlo and his daughter, Kristen, joined
220:Magazine as the Biz Person of the Year.
276:
679:Elejalde-Ruiz, Alexia (May 10, 2016).
660:from the original on February 12, 2018
300:"CVS Wants to Be Your Doctor's Office"
1041:American health care chief executives
712:Candisky, Catherine (June 21, 2018).
520:from the original on October 29, 2017
480:from the original on February 8, 2019
347:from the original on January 22, 2019
7:
627:from the original on August 10, 2018
501:
499:
227:as one of her special guests at the
382:from the original on April 29, 2015
216:In 2014, he was named number 31 by
646:Zillman, Claire (August 6, 2015).
617:"2016 Distinguished Alumni Fellow"
603:"SPDR S&P 500 ETF Trust (SPY)"
506:Gharib, Susie (October 24, 2017).
466:Hudson, David (January 19, 2015).
442:from the original on March 9, 2016
14:
693:from the original on July 3, 2018
402:"CVS Health Corp: Larry J. Merlo"
366:Rago, Joseph (January 23, 2015).
298:Gray, Eliza (February 12, 2015).
1051:University of Pittsburgh alumni
543:"2014's Top People in Business"
229:2015 State of the Union Address
589:"CVS Health Corporation (CVS)"
428:Luna, Taryn (March 31, 2015).
1:
244:East Greenwich, Rhode Island
201:Honors and board memberships
1003:CVS/pharmacy LPGA Challenge
850:Navarro Discount Pharmacies
808:Aetna Health Inc. v. Davila
96:1956 (age 67–68)
41:Chief Executive Officer of
1072:
998:CVS Health Charity Classic
168:Merlo began his career at
265:pharmacy benefit managers
225:First Lady Michelle Obama
127:
83:
48:
36:
27:
957:Eliphalet Adams Bulkeley
621:University of Pittsburgh
207:University of Pittsburgh
117:University of Pittsburgh
1021:CVS Health: Larry Merlo
375:The Wall Street Journal
174:chief executive officer
150:Charleroi, Pennsylvania
931:Standard Drug Company
916:Reliable Drug Stores
901:Melville Corporation
813:Coventry Health Care
555:on November 28, 2014
993:CVS Charity Classic
623:. October 5, 2016.
211:Business Roundtable
896:Hook's Drug Stores
1011:
1010:
891:Haag Drug Company
860:Oak Street Health
719:Columbus Dispatch
490:National Archives
148:Merlo grew up in
131:
130:
1063:
782:
775:
768:
759:
752:
751:
749:
747:
737:
731:
730:
728:
726:
709:
703:
702:
700:
698:
676:
670:
669:
667:
665:
643:
637:
636:
634:
632:
613:
607:
606:
599:
593:
592:
585:
579:
578:
571:
565:
564:
562:
560:
551:. Archived from
539:
530:
529:
527:
525:
503:
494:
493:
487:
485:
463:
452:
451:
449:
447:
435:The Boston Globe
425:
419:
418:
416:
414:
398:
392:
391:
389:
387:
371:
363:
357:
356:
354:
352:
337:"Larry J. Merlo"
333:
322:
321:
319:
317:
312:on June 19, 2015
308:. Archived from
295:
289:
288:
281:
152:, just south of
88:Personal details
74:
62:
53:
32:
18:
1071:
1070:
1066:
1065:
1064:
1062:
1061:
1060:
1026:
1025:
1017:
1012:
1007:
981:
945:
941:Target Pharmacy
864:
823:Eight Forty One
791:
786:
756:
755:
745:
743:
739:
738:
734:
724:
722:
711:
710:
706:
696:
694:
686:Chicago Tribune
678:
677:
673:
663:
661:
645:
644:
640:
630:
628:
615:
614:
610:
601:
600:
596:
587:
586:
582:
573:
572:
568:
558:
556:
541:
540:
533:
523:
521:
505:
504:
497:
483:
481:
465:
464:
455:
445:
443:
427:
426:
422:
412:
410:
400:
399:
395:
385:
383:
365:
364:
360:
350:
348:
335:
334:
325:
315:
313:
297:
296:
292:
283:
282:
278:
273:
252:
242:Merlo lives in
240:
231:on January 20.
203:
166:
146:
97:
72:
60:
54:
49:
23:
12:
11:
5:
1069:
1067:
1059:
1058:
1053:
1048:
1043:
1038:
1028:
1027:
1024:
1023:
1016:
1015:External links
1013:
1009:
1008:
1006:
1005:
1000:
995:
989:
987:
983:
982:
980:
979:
977:Karen S. Lynch
974:
969:
964:
959:
953:
951:
947:
946:
944:
943:
938:
933:
928:
923:
918:
913:
908:
903:
898:
893:
888:
883:
878:
872:
870:
866:
865:
863:
862:
857:
852:
847:
842:
837:
832:
827:
826:
825:
820:
815:
810:
799:
797:
793:
792:
787:
785:
784:
777:
770:
762:
754:
753:
732:
704:
671:
638:
608:
594:
580:
566:
531:
495:
473:whitehouse.gov
453:
420:
393:
358:
323:
290:
275:
274:
272:
269:
251:
248:
239:
236:
202:
199:
192:Karen S. Lynch
165:
162:
145:
142:
134:Larry J. Merlo
129:
128:
125:
124:
114:
110:
109:
94:
90:
89:
85:
84:
81:
80:
78:Karen S. Lynch
75:
69:
68:
63:
57:
56:
46:
45:
38:
37:
34:
33:
25:
24:
21:
13:
10:
9:
6:
4:
3:
2:
1068:
1057:
1054:
1052:
1049:
1047:
1044:
1042:
1039:
1037:
1036:Living people
1034:
1033:
1031:
1022:
1019:
1018:
1014:
1004:
1001:
999:
996:
994:
991:
990:
988:
984:
978:
975:
973:
970:
968:
965:
963:
962:Ward Melville
960:
958:
955:
954:
952:
948:
942:
939:
937:
934:
932:
929:
927:
924:
922:
919:
917:
914:
912:
909:
907:
904:
902:
899:
897:
894:
892:
889:
887:
884:
882:
879:
877:
874:
873:
871:
867:
861:
858:
856:
853:
851:
848:
846:
843:
841:
838:
836:
833:
831:
828:
824:
821:
819:
816:
814:
811:
809:
806:
805:
804:
801:
800:
798:
794:
790:
783:
778:
776:
771:
769:
764:
763:
760:
742:
736:
733:
721:
720:
715:
708:
705:
692:
688:
687:
682:
675:
672:
659:
655:
654:
649:
642:
639:
626:
622:
618:
612:
609:
604:
598:
595:
590:
584:
581:
576:
570:
567:
554:
550:
549:
544:
538:
536:
532:
519:
515:
514:
509:
502:
500:
496:
491:
479:
475:
474:
469:
462:
460:
458:
454:
441:
437:
436:
431:
424:
421:
409:
408:
403:
397:
394:
381:
377:
376:
370:
362:
359:
346:
342:
338:
332:
330:
328:
324:
311:
307:
306:
301:
294:
291:
286:
280:
277:
270:
268:
266:
262:
256:
249:
247:
245:
237:
235:
232:
230:
226:
221:
219:
214:
212:
208:
200:
198:
195:
193:
188:
186:
185:MinuteClinics
182:
177:
175:
171:
163:
161:
159:
155:
151:
143:
141:
139:
135:
126:
122:
118:
115:
111:
108:
104:
100:
95:
91:
86:
82:
79:
76:
70:
67:
64:
58:
52:
47:
44:
39:
35:
31:
26:
19:
16:
971:
926:Sav-on Drugs
911:Peoples Drug
869:Predecessors
840:MinuteClinic
835:CVS Caremark
830:CVS Pharmacy
818:Drivotrainer
796:Subsidiaries
744:. Retrieved
735:
723:. Retrieved
717:
707:
695:. Retrieved
684:
674:
662:. Retrieved
651:
641:
629:. Retrieved
611:
597:
583:
569:
557:. Retrieved
553:the original
546:
522:. Retrieved
511:
488:– via
482:. Retrieved
471:
444:. Retrieved
433:
423:
411:. Retrieved
405:
396:
384:. Retrieved
373:
361:
349:. Retrieved
314:. Retrieved
310:the original
303:
293:
279:
261:Side Effects
260:
257:
255:operations.
253:
241:
233:
222:
217:
215:
204:
196:
189:
178:
170:Peoples Drug
167:
147:
133:
132:
103:Pennsylvania
73:Succeeded by
50:
15:
1056:1956 births
972:Larry Merlo
967:Thomas Ryan
881:Big B Drugs
876:Arbor Drugs
845:Longs Drugs
524:November 8,
413:October 26,
238:Family life
66:Thomas Ryan
61:Preceded by
22:Larry Merlo
1030:Categories
950:Key people
789:CVS Health
631:August 17,
341:CVS Health
271:References
154:Pittsburgh
144:Background
138:CVS Health
99:Pittsburgh
43:CVS Health
906:Osco Drug
746:April 20,
725:April 20,
559:April 29,
484:April 29,
446:April 29,
407:Bloomberg
386:April 29,
351:April 29,
316:April 29,
250:Criticism
176:in 2011.
160:in 1978.
113:Education
51:In office
855:Omnicare
697:July 19,
691:Archived
664:July 19,
658:Archived
625:Archived
518:Archived
478:Archived
440:Archived
380:Archived
345:Archived
986:Related
653:Fortune
548:Fortune
513:Fortune
218:Fortune
181:tobacco
936:SupeRx
886:Eckerd
164:Career
921:Revco
803:Aetna
748:2021
727:2021
699:2017
666:2017
633:2017
561:2015
526:2017
486:2015
448:2015
415:2016
388:2015
353:2015
318:2015
305:Time
107:U.S.
93:Born
1032::
716:.
689:.
683:.
656:.
650:.
619:.
545:.
534:^
516:.
510:.
498:^
476:.
470:.
456:^
438:.
432:.
404:.
378:.
372:.
343:.
339:.
326:^
302:.
213:.
140:.
121:BS
105:,
101:,
781:e
774:t
767:v
750:.
729:.
701:.
668:.
635:.
605:.
591:.
577:.
563:.
528:.
492:.
450:.
417:.
390:.
355:.
320:.
287:.
123:)
119:(
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
