Former Macy’s executive Mark Cosby will join CVS Pharmacy as president, effective Oct. 1.
In his new post, Cosby, 52, will oversee all aspects of the drugstore chain’s retail business across 7,200 stores, 19 distribution centers and its Web site, including merchandising, supply chain, marketing, real estate, front-of-store and pharmacy operations.
He will succeed Larry Merlo, who was promoted to president and chief executive officer of CVS Caremark in March. Cosby will report to Merlo.
“[Cosby’s] valuable experience at major retailers in operations and strategic planning makes him an excellent choice to lead our retail business going forward,” stated Merlo. “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.”
Cosby previously served as Macy’s president of stores, where he oversaw store operations and support functions across the U.S. Prior to that, he was president and chief operating officer of Macy’s East and senior vice president for property development at Federated Department Store. His past experience also includes various posts at Sears Roebuck & Co. and Yum! Brands.
Cosby stated, “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.”
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