CVS Caremark Announces Next Stage of CEO Succession Plan

CVS Caremark Corporation CVS today announced the next stage of its transition plan outlined during its Annual Shareholders meeting last year. After the successful transition of day-to-day responsibilities for the company's retail operations earlier this month, the company has announced that Larry Merlo, President and Chief Operating Officer of CVS Caremark, will assume the role of CEO effective March 1, 2011. Thomas M. Ryan will remain Non-Executive Chairman until his retirement at the company's Annual Meeting of Shareholders in May of 2011.