CVS jumps on report it will add to board in deal with hedge fund Glenview

Investing.com11-18

Investing.com -- Shares of CVS Health (NYSE:CVS) rose 2.8% in premarket trading on Monday following a report from the Wall Street Journal that the company will expand its board as part of an agreement...

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The new appointees also include Leslie Norwalk, a former acting administrator at the Centers for Medicare and Medicaid Services; Guy Sansone, CEO of H2 Health; and Doug Shulman, a former IRS commissioner and executive at BNY Mellon , the WSJ reported.CVS Executive Chairman Roger Farah is said to have emphasized the collaborative nature of the agreement, saying, “The board members that are joining bring unique skills, they’ll be additive to the existing board, and we expect to work collaboratively.”US opens probe into over 110,000 F","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK":"纽约梅隆银行","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","BK4585":"ETF&股票定投概念","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4196":"保健护理服务","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU0072461881.USD":"BGF US BASIC VALUE \"A2\" ACC","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","BK4559":"巴菲特持仓","BK4588":"碎股","LU1059921491.USD":"NORDEA 1 GLOBAL STABLE EQUITY \"HB\" (USDHDG) ACC","BK4550":"红杉资本持仓","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU1699723380.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"AP\" (USD) ACC","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4581":"高盛持仓","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","BK4504":"桥水持仓","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","BK4135":"资产管理与托管银行","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","LU0162691827.USD":"BGF US BASIC VALUE \"A4\" INC","CVS":"西维斯健康"},"translate_title":"CVS因报告将在与对冲基金Glenview的交易中增加董事会成员而股价上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CVS":1,"BK":1},"content_text":"Investing.com -- Shares of CVS Health (NYSE:CVS) rose 2.8% in premarket trading on Monday following a report from the Wall Street Journal that the company will expand its board as part of an agreement with Glenview Capital Management, a hedge fund advocating for changes at the company.\nCVS will add four new board members, including Glenview CEO Larry Robbins, in a move aimed at improving its relationship with investors.\nThis will bring the board’s total membership to 16. The new appointees also include Leslie Norwalk, a former acting administrator at the Centers for Medicare and Medicaid Services; Guy Sansone, CEO of H2 Health; and Doug Shulman, a former IRS commissioner and executive at BNY Mellon (NYSE:BK), the WSJ reported.\nCVS Executive Chairman Roger Farah is said to have emphasized the collaborative nature of the agreement, saying, “The board members that are joining bring unique skills, they’ll be additive to the existing board, and we expect to work collaboratively.”\nThe announcement comes as CVS faces mounting pressure from investors after a 34% decline in its stock price this year. Challenges have been tied to its insurance unit, Aetna, which has struggled with rising medical costs, particularly in its Medicare plans. \nDavid Joyner, who recently replaced Karen Lynch as CEO, is focusing on reorganization efforts and improvements at Aetna, which he has described as unacceptable, said the WSJ.\nRobbins noted that the changes aim to enhance CVS’s operational execution and profitability while prioritizing debt reduction to stabilize its balance sheet. \nHe also highlighted the value the new board members bring, saying their networks could help bolster CVS’s management at various levels, according to the WSJ.\nThe agreement with Glenview is seen as a step toward rebuilding investor confidence as CVS executes its strategic reset.\nRelated Articles\nCVS jumps on report it will add to board in deal with hedge fund Glenview\nUS no-frills pioneer Spirit Airlines files for bankruptcy protection\nUS opens probe into over 110,000 Ford SUVs on seat belt concern","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Executive Changes","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484225496"}