CVS Health CEO Karen Lynch's resignation comes amid a 19% share drop this year as the company grapples with rising costs and declining drugstore sales.
Leerink Partners analyst Michael Cherny noted that while Lynch's departure was unexpected, 'it is hard, given the operational and stock underperformance, to say a change at the top is undeserved.'
CVS Health has cut its financial expectations for the third time in a year, dealing with increased claims from Medicare Advantage coverage, indicating significant operational challenges.
Following Lynch's departure, CVS Health now has 45 female CEOs in the S&P 500, which is about 9% of all CEOs, highlighting the challenges women face in leadership.
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