Larry Merlo

Larry J. Merlo is a pharmacist and executive known for his leadership in the U.S. healthcare and retail pharmacy industries. Merlo earned a Bachelor of Science degree from the University of Pittsburgh School of Pharmacy and began his career at Peoples Drug, joining CVS Pharmacy when the company acquired Peoples. He advanced through roles including Chief Operating Officer of CVS Health, President of CVS Pharmacy, and Executive Vice President–Stores, before being appointed Chief Executive Officer.

During his tenure as President and CEO, Merlo oversaw significant growth and strategic transformation at CVS Health. Under his leadership, company revenue increased from approximately $100 billion to nearly $250 billion. Merlo guided CVS Health’s expansion and leveraged opportunities presented by the Affordable Care Act to evolve the company into a multifaceted health-management organization. He announced that CVS would discontinue tobacco sales in all stores, a public health initiative that resulted in forgoing about $2 billion in annual revenue and contributed to the company’s rebranding as CVS Health.

Merlo also led CVS Health’s $69 billion merger with health insurer Aetna, a move designed to create a data-driven healthcare model focused on personalized and accessible care. He directed the expansion of MinuteClinics, increasing the number of walk-in health clinics, and implemented policies to limit access to opioid painkillers in response to the prescription drug crisis. Merlo was recognized by Fortune Magazine as number 31 on its Biz Person of the Year list.

Merlo’s influence extended to public health advocacy and industry leadership. He and his daughter attended the State of the Union Address as guests of the First Lady, highlighting the national impact of CVS Health’s initiatives. He was named Distinguished Alumni Fellow by the University of Pittsburgh and served on the boards of America’s Health Insurance Plans, the National Association of Chain Drug Stores, the Partnership for Rhode Island, and the Business Roundtable.

Following his retirement from CVS Health, Merlo has remained active in the healthcare and business sectors. He serves as Chair of the Kenvue Board of Directors, a consumer health company, as an Emeritus Trustee of the University of Pittsburgh, and as an advisor to Charlesbank Capital Partners. With more than four decades of experience in retail pharmacy, healthcare management, and healthcare policy, Merlo continues to contribute to discussions on the future of American healthcare.