President and Chief Executive Officer, CVS Caremark Corporation
Larry Merlo became CVS Caremark’s President and Chief Executive Officer on March 1, 2011, the fourth CEO in the company’s history. He has over 30 years in pharmacy health care and strong track record of success.
Originally from a small town just south of Pittsburgh, Larry Merlo’s path to pharmacy seems almost predestined. “I always enjoyed science in high school,” he explains. “I was lucky enough to have a terrific chemistry teacher who helped steer me toward a life in pharmacy.” To pursue his dream, Merlo attended University of Pittsburgh School of Pharmacy. He was the first in his family to attend college.
After graduating, Merlo began his career at Thrift Drug and People’s Drug, which ultimately became part of CVS/pharmacy. Over the years, he held positions of increasing responsibility and in 2007 was named president of CVS/pharmacy.
Under his leadership, CVS/pharmacy has generated industry-leading sales and profit results through both organic growth and acquisitions. In fact, Merlo has the best industry track record of integrating major acquisitions. He has successfully led five major retail integrations including Revco, Arbor, Eckerd, Savon-Osco and Longs. He is known and respected for setting high expectations, building collaborative teams and an environment of candor and trust, establishing clear accountability and delivering results.
As the CEO of the largest integrated pharmacy health care provider, Merlo understands the tremendous opportunities facing CVS Caremark. He sees four key focus areas: maximizing the potential of the PBM, sustaining retail leadership, continuing innovation to create new health care solutions, and more consistently delivering financial and operational excellence and accountability.
Merlo has received numerous professional honors, including his past role as chairman of the Board for the National Association of Chain Drug Stores (NACDS), where he still serves on the Board’s Executive Committee and chairs the Human Resources Committee. His greatest joy, however, is his family. He and his wife Lee Ann, along with their teenage daughter Kristen currently live in East Greenwich, R.I. He enjoys golf and remains a die-hard Steelers and Pitt football fan.