Full Slate of 14 Directors Elected at CVS Caremark Annual Meeting
Woonsocket, RI (May 9, 2007) – CVS Caremark Corporation (NYSE: CVS) announced
that based on preliminary results the full slate of 14 directors nominated to
serve on the CVS Caremark Board of Directors was elected at the company's
Annual Meeting of Stockholders this morning.
The elected members of the CVS Caremark Board of Directors are as follows:
- E. Mac Crawford - Chairman, CVS Caremark Corporation
- Thomas M. Ryan - President and CEO, CVS Caremark Corporation
- Edwin M. Banks - Founder, Washington Corner Capital Management, LLC
- C. David Brown II - Chairman, Broad and Cassel
- David W. Dorman - Senior Advisor and Partner, Warburg Pincus LLC
- Kristen E. Gibney Williams - former executive of Caremark's Prescription
Benefits Management Division
- Roger L. Headrick - Managing General Partner, HMCH Ventures; President and
CEO, ProtaTek International, Inc.
- Marian L. Heard - President and CEO, Oxen Hill Partners
- William H. Joyce - Chairman and CEO, Nalco Company
- Jean-Pierre Millon - former President and CEO, PCS Health Systems Inc.
- Terrence Murray -former Chairman and CEO, FleetBoston Financial Corporation
- C.A. Lance Piccolo - CEO of HealthPic Consultants, Inc.
- Sheli Z. Rosenberg - former Vice Chairman, President and CEO, Equity Group
- Richard J. Swift - former Chairman, President, and CEO, Foster Wheeler Ltd.
“The members of the Board of Directors bring extensive experience with
both CVS and Caremark,” said Mr. Crawford. “This group will guide
CVS Caremark as we fulfill our goals for transforming the delivery of health
care, providing significant benefits to employers, health plans and consumers
and delivering shareholder value.”
Mr. Ryan noted, “This is an exciting time for our company. As we look
forward to the opportunities ahead, I am pleased that we have the caliber of
people both in our board of directors and executive management team that will
help shape our direction and execute our long term vision. Today, our shareholders
affirmed their support for the course we have set, to lead change and improve
healthcare delivery in this country.”
In other actions, based on preliminary results the stockholders voted in accordance
with the Board of Directors' recommendation for a vote in favor of the
- Ratification of the appointment of KPMG LLP as Corporation's independent
registered public accounting firm for the fiscal year ending December 29,
- Adoption of the Corporation's 2007 Employee Stock Purchase Plan.
- Adoption of the Corporation's 2007 Incentive Plan.
Based on preliminary results the stockholders also voted in accordance with
the Board of the Directors' recommendation for a vote against the following
- A stockholder proposal regarding limits on CEO compensation.
- A stockholder proposal regarding sustainability reporting by the Corporation.
- A stockholder proposal regarding the relationship between the Corporation
and compensation consultants.
The votes in regard to the following two items are still being tabulated:
- A stockholder proposal regarding separation of the roles of Chairman and
- A stockholder proposal regarding the Corporation's policy on stock
About CVS Caremark
CVS Caremark is the nation's premier integrated pharmacy services provider,
combining one of the nation's leading pharmaceutical services companies with
the country's largest pharmacy chain. The company fills or manages more
than one billion prescriptions per year, more than any other pharmacy services
provider. CVS Caremark drives value for pharmacy services customers by effectively
managing pharmaceutical costs and improving healthcare outcomes through its
6,200 CVS/pharmacy stores; its pharmacy benefit management, mail order and specialty
pharmacy division, Caremark Pharmacy Services; its retail-based health clinic
subsidiary, MinuteClinic; and its online pharmacy, CVS.com. General information
about CVS Caremark is available through the Investor Relations portion of the
Company's website, at http://investor.cvs.com, as well as through the pressroom
portion of the Company's website, at www.cvs.com/pressroom.
Eileen Howard Dunn