CVS Taps Cosby as President

CVS Caremark named Mark S. Cosby as president of CVS/pharmacy effective Oct. 1, 2011.With more than 7,200 stores in 41 states, the District of Columbia, and Puerto Rico, CVS/pharmacy is one of the largest pharmacy chains in the United States, according to the company.

Cosby, 52, most recently served as Macy’s president of stores where he was responsible for all Macy’s store operations and support functions nationwide.

“We’re delighted that Mark is joining our team,” said Larry J. Merlo, president and CEO of CVS Caremark.”His valuable experience at major retailers in operations and strategic planning makes him an excellent choice to lead our retail business going forward.I am confident that Mark will bring a strong vision, great energy, and new ideas to CVS/pharmacy as we continue to refine our model and introduce innovations that position us for ongoing success and industry leadership.”

Cosby succeeds Merlo who led the company’s retail business prior to taking over as CEO of CVS Caremark in March of this year.As president, Cosby will have responsibility for all aspects of the company’s Retail business including its more than 7,200 retail stores, 19 distribution centers and award-winning e-commerce site as well as retail merchandising, supply chain, marketing, real estate, front store and pharmacy operations.

Previously, Cosby served as president and chief operating officer of Macy’s East, and senior vice president for property development of Federated Department Stores.Earlier in his career, Cosby was president of full-line stores for Sears Roebuck & Co., chief operations officer of KFC, and chief development officer of Yum! Brands.Cosby began his career as a financial analyst for General Foods Corporation and earned his undergraduate degree in business and MBA from the University of Wisconsin.