Health Net sells Medicare unit to CVS
New York City — Managed care company Health Net Inc. announced it will sell its Medicare Part D stand-alone prescription drug business to CVS Caremark for $160 million.
The business has about 400,000 members in 49 states and Washington, D.C., with annual revenue of approximately $490 million.
The deal is scheduled to close during the second quarter, pending approval from antitrust regulators.
Lululemon founder stepping back
New York City — Lululemon Athletica said on Friday that Dennis J. Wilson, its founder and former CEO, would step down from his current position as chief innovation and branding officer of the yogawear company at the end of January.
Wilson will remain as chairman.
QVC appoints former Wal-Mart executive as CIO
West chester, Pa. — QVC announced that Linda Dillman has been appointed CIO, Dillman most recently served as senior VP global IT at HP. Previously, she was executive VP and CIO at Wal-Mart Stores.
"QVC’s 25-year track record of success relies on our ability to deliver a high quality, seamless multi-platform experience to our millions of customers worldwide," said QVC president and CEO, Mike George. "This is no easy accomplishment and requires strong IT leadership that can meet our business’ high demands for technical functionality, scalability and performance. Linda’s background makes her ideally suited to keep QVC at the forefront of innovation and maintain our leadership as the premier global multimedia retailer."
Dillman spent 18 years at Walmart, from 1991 to 2009, during which time she served in areas of increasing responsibility in IT, including executive VP and CIO, and also served as executive VP risk and benefits.