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CVS Caremark Announces Interim Leadership for Retail Business
Date:1/18/2011

WOONSOCKET, R.I., Jan. 18, 2011 /PRNewswire-FirstCall/ -- CVS Caremark (NYSE: CVS) today announced that it has appointed its two highest ranking retail executives to jointly lead its CVS/pharmacy business, reporting directly to Larry Merlo, President and Chief Operating Officer of CVS Caremark. Effective immediately, Mike Bloom, EVP Merchandising and Supply Chain, and Scott Baker, EVP Internal Operations and Real Estate, will take over the management of the company's retail business for its 7,100 stores across the country.   Bloom and Baker are assuming these responsibilities on an interim basis pending completion of the Company's previously announced search for a new President of CVS/pharmacy.

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Mike Bloom is a seasoned retail executive with more than 30 years of retail experience, 20 of them with CVS/pharmacy. As the senior CVS/pharmacy executive with direct oversight for merchandising and supply chain activities, Bloom leads an integrated end-to-end network managing store layout as well as the selection, purchasing, inventory and supply of product throughout the company's retail locations as well as managing the company's visual merchandising and pricing departments. In addition to his current role, Bloom will now assume responsibility for advertising and marketing.

Scott Baker, whose tenure with CVS/pharmacy spans more than 25 years, has held a variety of important senior roles including SVP of Retail Operations and head of the company's East retail field operations. Baker, a pharmacist by training, will now assume responsibility for all of the company's retail field organizations and pharmacy operations.

"As the company's succession planning process moves forward and I have assumed more enterprise-wide responsibilities, we made the decision to delegate the day-to-day operations of our
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SOURCE CVS Caremark
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