Larry J. Merlo was the President and CEO of CVS Health Corporation until he retired on May 31, 2021. Leading the company since 2011, he helped CVS grow by acquiring other businesses like Omnicare and Target’s pharmacy services, which strengthened...

Larry J. Merlo was the President and CEO of CVS Health Corporation until he retired on May 31, 2021. Leading the company since 2011, he helped CVS grow by acquiring other businesses like Omnicare and Target’s pharmacy services, which strengthened its position in healthcare. Merlo is noted for his hands-on leadership style and his ability to steer the company through complex changes in the healthcare industry. Under his watch, CVS made significant strides into healthcare services, not just retail pharmacy. His compensation peaked in certain years, reaching over $30 million, but he also faced years with reduced bonuses due to unmet performance targets. Interestingly, his retirement package included a bonus of $2.44 million, a reflection of the company’s Management Incentive Plan. Merlo had a strategic focus on performance-based pay, aligning executive bonuses with CVS’s success and shareholder interests. An important feature of his contract was the "double trigger" provision in his severance plan, aimed at ensuring leadership stability in case of a company takeover. He also participated in a Supplemental Executive Retirement Plan, showing his long-term commitment to CVS. Merlo holds a Business Administration degree from the University of Massachusetts Amherst, bringing over 30 years of experience in the healthcare sector to his role.