Karen Lynch has been named president and CEO of CVS Health, effective Feb. 1, 2021, replacing the retiring Larry Merlo.
Lynch, currently executive VP, CVS Health, and president, Aetna, will also join the company's board of directors.
Merlo will transition from the president and CEO role on Feb. 1. He will serve on CVS Health's board of directors until May 2021 and as strategic advisor to assist with the transition until retirement on May 31, 2021.
"This leadership transition comes at the right time for CVS Health. This month marks the two year anniversary as one company, with our foundation clearly established and significant positive momentum across the company," said David W. Dorman, chair of the board of CVS Health Corporation.
Dorman added: "Karen is a seasoned health care expert who knows our business. She brings a relentless focus on the customer, a strong track record of driving growth and innovation, and proven transformational leadership, all of which position her well for success."
In her current role and with eight years at Aetna, Lynch is responsible for leading the company's strategy to deliver consumer-focused, high-value health care. She is also responsible for developing diversified enterprise health care solutions leveraging CVS Health's assets.
Prior to joining Aetna in 2012, she was president of Magellan Health Services and held various senior executive positions at Cigna.