CVS Health Taps Former Aetna Finance Chief Guertin for CFO

(Bloomberg) -- CVS Health Corp. named Shawn Guertin chief financial officer, bringing the former Aetna executive back as part of new Chief Executive Officer Karen Lynch’s management team.

Guertin was supposed to assume the role when CVS acquired Aetna in 2018, but decided to step away for personal and family reasons, the health-care company said at the time. CVS instead named Eva Boratto, then chief accounting officer, for the position.

“Shawn is an extraordinary leader with a proven track record of developing financial strategies to help companies drive transformation,” Lynch said in a statement.

Guertin’s return comes three months into Lynch’s tenure. She took the helm in February following the retirement of Larry Merlo, CVS’s longtime CEO. Boratto, an 11-year veteran of CVS, will leave the company, according to the statement.

CVS is trying to convince Wall Street it can reinvent itself and that its $68 billion deal for Aetna is paying off. Shares of CVS gained 4.2% on Tuesday as of 10:25 a.m. in New York.

In the announcement, CVS reaffirmed the 2021 financial guidance it provided earlier this month, saying it expects adjusted earnings per share of $7.56 to $7.68.

©2021 Bloomberg L.P.