Cosby To Lead CVS /Pharmacy

CVS Caremark announced this week that Mark S. Cosby has been named President of its pharmacy division, and will lead all aspects of the company's retail business including more than 7,200 retail stores in 41 states, beginning in October of this year. Headquartered in Woonsocket, CVS is one of the largest pharmacy chains in the United States.

Cosby, 52, most recently served as Macy's president of stores where he was responsible for all Macy's store operations and support functions nationwide.

"We're delighted that Mark is joining our team," said Larry J. Merlo, President and CEO of CVS Caremark. "His valuable experience at major retailers in operations and strategic planning makes him an excellent choice to lead our retail business going forward. I am confident that Mark will bring a strong vision, great energy, and new ideas to CVS/pharmacy as we continue to refine our model and introduce innovations that position us for ongoing success and industry leadership."

Merlo himself led the company's retail business prior to taking over as CEO of CVS Caremark in March of this year. In addition to the company's retail stores, as president, Cosby takes over responsibility for 19 distribution centers, an e-commerce site, retail merchandising, supply chain, marketing, real estate, front store and pharmacy operations.

Previously, Cosby served as president and chief operating officer of Macy's East, and senior vice president for property development of Federated Department Stores. Earlier in his career, Cosby was president of full-line stores for Sears Roebuck & Co., chief operations officer of KFC, and chief development officer of Yum! Brands. Cosby began his career as a financial analyst for General Foods Corporation and earned his undergraduate degree in business and MBA from the University of Wisconsin.

"I am looking forward to this exciting new role," said Cosby. "My passion for the customer and broad retail experience has helped to prepare me for this and I am honored to lead this talented team of retail executives. What makes CVS/pharmacy extraordinary is its unique ability to improve the lives of millions of Americans by providing easy, innovative solutions and personalized pharmacy health care at their neighborhood drugstore. I am committed to driving profitable growth and furthering our retail leadership position."