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CVS to appoint new CFO, 3 directors upon closing of Aetna deal

CVS Health Corp. said Oct. 10 that it will appoint a new CFO and three new directors to the company's board when it completes its acquisition of health insurer Aetna Inc.

Under the deal, Aetna will be managed as a separate entity operating within the CVS organization.

The pharmacy chain expects to name Eva Boratto, chief accounting officer and executive vice president, as CFO and appoint Edward Ludwig, Fernando Aguirre and Roger Farah to the board of directors.

The new appointments, along with the previously announced addition of Aetna CEO Mark Bertolini to the board, will bring the size of CVS' board to 16 members.

Boratto will succeed Shawn Guertin, who has decided to step down from his post for personal and family reasons. Guertin will remain with the company until June 2019 to help the combined company with integration and financial planning strategy, according to the release.

Ludwig is the lead independent director at Boston Scientific Corp., while Aguirre held several leadership roles at The Procter & Gamble Co. Farah was co-CEO and a director at fashion company Tory Burch LLC and is chairman of the board at jewelry retailer Tiffany & Co.

The announcement comes the same day the Department of Justice said they would approve CVS' $69 billion merger deal with Aetna once the companies divest their Medicare Part D plans.