CVS CEO to step down, hand reins to Aetna chief

CVS Health President and CEO Larry Merlo will step down from his role in February.

Karen Lynch, president of CVS' Aetna insurance unit, will succeed Mr. Merlo as CVS president and CEO, effective Feb. 1.

Ms. Lynch will also join the company's board of directors upon assuming her new role.

Mr. Merlo began his career at CVS as a community pharmacist 40 years ago and has served at the helm for a decade.