CVS Health announced the resignation of CEO Karen Lynch as the company grapples with disappointing earnings forecasts for the third quarter. David Joyner, president of CVS Caremark, will replace her, aiming to navigate rising medical costs and operational challenges.
CVS's shares fell nearly 10% in pre-market trading after a third financial outlook cut this year, which follows a planned reduction of 2,900 jobs due to decreased consumer spending. With Joyner's extensive experience, CVS hopes to address industry hurdles and improve financial performance.
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