CVS Caremark (CVS) announced the appointment of David Denton to the new role of Executive Vice President and Chief Financial Officer, effective January 1, 2010. Denton will succeed David Rickard who announced in February of this year his intention to retire as CFO.
Denton is currently CVS Caremark's SVP, Controller and Chief Accounting Officer.
Replacing Denton in his current role of Controller and Chief Accounting Officer is Laird Daniels. Daniels, who joined CVS Caremark in 1997, was most recently Vice President of Finance and Retail Controller for CVS/pharmacy.
Separately, CVS Caremark announced that its Board of Directors has approved a new share repurchase program for up to $2.0 billion of its outstanding common stock. The share repurchase authorization, which is effective immediately and expires at the end of 2011, permits the Company to effect the repurchases from time to time through a combination of open market repurchases, privately negotiated transactions and/or accelerated share repurchase transactions.
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