By Mark Maurer 

CVS Health Corp. named the former finance chief of Aetna Inc. to lead its finances as the pharmacy chain works to administer millions of doses of Covid-19 vaccines.

The Woonsocket, R.I.-based company on Tuesday said Shawn Guertin would become its executive vice president and chief financial officer, effective May 28.

Mr. Guertin is set to succeed current CFO Eva Boratto, who is leaving the company after 11 years. Ms. Boratto has been CFO since 2018, when CVS completed its nearly $70 billion acquisition of health insurer Aetna.

Mr. Guertin in 2018 was expected to become CVS's CFO after the deal closed, but he decided to leave for personal and family reasons, the company said at the time. He remained with the company nearly a year after the transaction closed to help with the integration.

Mr. Guertin currently serves on the boards of payroll-services firm TriNet Group Inc. and healthcare company DaVita Inc. He worked at Aetna from 2011 to 2019, six years of which he was CFO.

CVS earlier this month posted revenue of $69.1 billion for the quarter ended March 31, up 3.5% from the prior-year period. Same-store sales, or those at retail pharmacy stores that had been operating for more than one year, climbed 0.4%. Net income was $2.22 billion for the first quarter at CVS, up from $2 billion in the same period last year.

CVS said earlier this month that it has given out more than 17 million Covid-19 shots at more than 8,300 U.S. locations. Like its competitors, CVS has begun offering walk-in and same-day appointments for injections in an effort to improve uptake.

A CVS spokesman said Mr. Guertin and Ms. Boratto weren't available for comment.

--Anna Wilde Mathews contributed to this article.

Write to Mark Maurer at mark.maurer@wsj.com

 

(END) Dow Jones Newswires

May 18, 2021 08:14 ET (12:14 GMT)

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