Former Aetna CEO Mark Bertolini Resigns From CVS Health Board

Date : 02/08/2020 @ 12:17AM
Source : Dow Jones News
Stock : CVS Health Corporation (CVS)
Quote : 55.72  0.31 (0.56%) @ 12:52AM
After Hours
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Last $ 55.50 ▼ -0.22 (-0.39%)

Former Aetna CEO Mark Bertolini Resigns From CVS Health Board

CVS Health (NYSE:CVS)
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By Anna Wilde Mathews 

Former Aetna Inc. Chief Executive Mark Bertolini resigned from the board of CVS Health Corp., after the company said Monday he wouldn't stand for re-election later this year.

In the wake of that earlier announcement, Mr. Bertolini told The Wall Street Journal in an interview that he was being pushed off the board. He said he was willing to continue serving but "the board thought otherwise," adding that he felt the integration between the insurer and CVS, which bought it in 2018 for nearly $70 billion, is "far from over."

Mr. Bertolini declined to comment Friday about his resignation, which was disclosed by CVS. A CVS spokesman declined to comment.

CVS had said on Monday that Mr. Bertolini and two other board members would leave after the company's annual meeting. CVS said then it was reducing the size of its board following corporate-governance best practices.

After Mr. Bertolini's comments earlier this week, the CVS spokesman said that "the integration has been a success and the board has the utmost confidence in the current management team and the progress the combined company has shown to date."

Write to Anna Wilde Mathews at anna.mathews@wsj.com

 

(END) Dow Jones Newswires

February 07, 2020 19:02 ET (00:02 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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