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Will David Joyner remain CEO of CVS Health by the end of 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcement from CVS Health or news reports
Story
CVS Replaces CEO Karen Lynch with David Joyner, Lowers Earnings Forecast, Withdraws 2024 Guidance
Oct 18, 2024, 11:38 AM
CVS Health has appointed David Joyner as its new President and Chief Executive Officer, succeeding Karen Lynch, who stepped down after an agreement with the board. The leadership change comes as the company struggles to drive higher profits and stock performance. CVS issued a profit warning, expecting preliminary third-quarter adjusted earnings per share (EPS) between $1.05 and $1.10, significantly below analysts' estimates of $1.70. The company also reported a higher medical loss ratio of 95%, exceeding expectations of 91%, and withdrew its most recent 2024 guidance issued in August. In response, CVS shares tumbled over 13% in pre-market trading.
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