Executive leadership for the eventual CVS-Aetna entity is starting to take shape, and not everyone is sticking around.
Ahead of its planned acquisition of Aetna, CVS announced its future management team, which includes executives from both companies. Aetna will operate as a standalone business once the deal closes, but some executives will shift to newly defined roles.
Some of the planned personnel moves include moving Karen Lynch, Aetna's current president, into the roles of executive vice president of CVS and president of the Aetna's standalone business unit.
Shawn Guertin, Aetna's chief financial officer, will serve as CFO for CVS, taking over for the departing David Denton.
Denton isn't the only one heading out the door. Following the close, Aetna executive vice presidents Steven Kelmar, Thomas Sabatino, Jr., and Thomas Weidenkopf will also be departing.
Aetna's Chief Medical Officer Harold Paz, M.D., and Meg McCarthy, executive vice president of operations and technology, will remain with the new organization "for a period of time" to assist with the transition.
Aetna previously announced that its Chairman and CEO Mark T. Bertolini will depart as CEO, but he'll be added to the CVS Health Board of Directors.
"We're very excited to be taking this milestone step in the journey to combine our two great companies," CVS Health president and CEO Larry J. Merlo said in a statement.
Until the close of the transaction, CVS Health and Aetna will continue to operate as two separate companies. The $69 billion deal is still expected to close in the second half of 2018, barring a successful regulatory review.