CVS Well being’s appointed Shawn Guertin as its new chief monetary officer, bringing again a former government from Aetna.
Guertin is a present board member of dialysis supplier DaVita and TriNet Group payroll providers firm. He most lately served as CFO and chief enterprise danger officer of Aetna—the insurer that CVS owns—from January 2014 to Could 2019. He succeeds Eva Boratto, who will likely be leaving CVS Well being, and can assume the function on Could 28.
Guertin will report back to CEO Karen Lynch and turn into a member of the corporate’s government crew.
“Shawn is a unprecedented chief with a confirmed observe report of creating monetary methods to assist firms drive transformation,” Lynch mentioned in a press release. “His deep and broad well being care expertise will likely be invaluable and I am assured he’ll play an integral function as we remodel CVS Well being to turn into a fair greater a part of customers’ on a regular basis well being.”
Guertin will likely be liable for all points of the corporate’s monetary technique and operations, together with accounting and monetary reporting, investor relations, mergers and acquisitions, treasury and capital planning, investments, danger administration, tax, budgeting and planning and procurement.
He’ll obtain an annual base wage of $1.25 million and will likely be eligible to take part in CVS Well being’s annual bonus plan with a goal annual money bonus alternative of 175% of his base wage, prorated for the 2021 efficiency yr. Guertin can even obtain a $1 million money sign-on bonus and a one-time sign-on fairness award with a grant date worth of $3 million, which is able to vest over a interval of three years.
His goal annual fairness award compensation will likely be $7 million, which for 2021 will likely be comprised of 75% efficiency inventory items and 25% inventory choices.
“That is an thrilling time for CVS Well being,” Guertin mentioned in a press release. “No different firm has each the robust enterprise and the client attain and relationships to rework well being care at scale. The pandemic has modified how People wish to obtain care and I am excited to assist CVS Well being lead in a quickly evolving market.”