Several states investigating CVS Caremark for unfair dealings
New York City Lawmakers, customers, and pharmacists are accusing CVS Caremark of using its combined clout to pressure consumers to use CVS.
According to Fortune magazine, besides an FTC probe, several states are investigating the $99 billion company, which some people hope will be broken up. “I think there’s potential for an actual divestiture,” says David Balto, a former FTC policy director who now works with the National Community Pharmacists Association.
PepsiCo names new CFO
PURCHASE, N.Y. PepsiCo announced that Hugh Johnston, a 23-year company veteran who currently serves as EVP PepsiCo global operations, will succeed Richard Goodman as CEO of the company.
Since joining PepsiCo in 1987, Johnston has held M&A, finance and strategy positions in PepsiCo’s corporate headquarters as well as finance and general management roles in its North American snack and beverage businesses. Johnston left PepsiCo from August 1999 through March 2002 to pursue a general management role as VP retail, at Merck Medco, leading the company’s retail pharmacy card business. He rejoined PepsiCo in 2002 as SVP mergers and acquisitions, and then became CFO for PepsiCo Beverages & Foods, where he was responsible for leading the finance function for Pepsi-Cola North America, Tropicana, Gatorade North America and Quaker Foods North America. He held this position until 2005, when he became SVP transformation, and in 2006 he assumed the role of EVP operations, responsible for the company’s global transformation, supply chain, procurement and information technology functions.
In 2007, he was named president of Pepsi-Cola North America Beverages, responsible for strategic direction and financial performance, with accountability for sales, franchise management, field marketing and operations. In that role he positioned the PCNAB product portfolio to compete more effectively in a very challenging external environment.
Dollar General kicks off month-long Autism awareness campaign
GOODLETTSVILLE, Tenn. Dollar General announced that it has donated $50,000 to Autism Speaks, the nation’s largest autism science and advocacy organization, to kick off a month-long fundraising campaign during Autism Awareness Month in April.
“We are excited to partner with Dollar General and very grateful for their support and commitment to our cause,” said Mark Roithmayr, president of Autism Speaks. “This partnership will raise critical funds for our research and advocacy efforts and also bring our awareness message to Dollar General’s millions of customers.”
Throughout April, Dollar General will offer customers the opportunity to make donations to Autism Speaks during check-out. In addition, the Autism Speaks puzzle piece logo will appear on Dollar General’s NASCAR Nationwide Series No. 32 car and Sarah Fisher’s No. 67 IZOD IndyCar Series car for the month of April to drive awareness for the campaign. Dollar General will make an additional $50,000 donation to Autism Speaks for every race won by either Dollar General car in April.
“We are proud to partner with Autism Speaks to support the fight against autism,” said Rick Dreiling, chairman and CEO of Dollar General. “Many of our customers are affected by this disorder, and we are happy to offer them the opportunity to help fund research for the cause.”