Tom Ryan takes over as chairman of CVS board

WOONSOCKET, R.I. CVS Caremark announced on Wednesday that Tom Ryan, president and chief executive officer, has assumed the additional role of chairman of the board, effective immediately. Mac Crawford is retiring from the company’s board and the position as chairman.

“Mac has been a dedicated and passionate advocate for Caremark over the past nine years. His broad health care expertise, savvy management and business acumen have helped make Caremark the leading pharmacy benefit manager in the nation,” stated Ryan. “His vision is what brought Caremark to where it is today, and now our combined mission to improve health care is what will take us to the next level.”

“I am confident that we have the right management focused on the right opportunities, and I could not be more pleased with the progress we have made since we closed the transaction," Crawford added. There is no question that the company is in extremely capable hands with Tom and this newly combined CVS Caremark team.”

Crawford has been chairman of the CVS Caremark board since the closing of the merger. Previously, he served as chairman and chief executive officer of Caremark Rx.

In addition, the board of directors has appointed Terrence Murray as lead director. He is the former chairman of FleetBoston Financial Corp. and served as chief executive officer of FleetBoston from May 1982 to December 2001. He has served on the CVS Caremark board since the closing the deal. Previously, he served on the CVS board since 1996.