Merlo set to take reins of CVS on March 1

Woonsocket, R.I. -- CVS Caremark said Larry Merlo will succeed Thomas M. Ryan as CEO on March 1 as part of its previously announced succession strategy.

The company had announced in May that Merlo would take the position as Ryan approaches retirement. Merlo is currently the president and COO.

Ryan will remain chairman of the board until he retires in May, at which point David Dorman will take that position. Dorman has been a director since 2006.

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