Who is Nancy-Ann M. DeParle and why is her appointment significant for CVS Health?

Nancy-Ann M. DeParle is a highly respected figure in the healthcare industry with extensive experience in policy, management, and financing. Her appointment to the Board of Directors is significant because of her deep expertise, particularly her White House roles in health reform and her leadership at CMS, which can provide valuable strategic insights and guidance to CVS Health's operations and future direction.

What is Ms. DeParle's background in the private sector?

Ms. DeParle has a substantial background in private equity, focusing on healthcare investments. She has been a Partner at Consonance Capital Partners, and previously held senior roles with JPMorgan Partners and CCMP Capital. During these tenures, she served on the boards of various healthcare companies, gaining valuable experience in corporate governance and investment strategy within the sector.

What is Ms. DeParle's role on the Board of Directors?

Ms. DeParle has been elected as a director and has been appointed to the Audit Committee. The Audit Committee plays a crucial role in overseeing financial reporting, internal controls, and the independent audit process, suggesting that her expertise will be instrumental in these critical governance functions.

How will Ms. DeParle be compensated for her role as a director?

Ms. DeParle's compensation for her service as a non-employee director will be consistent with the compensation provided to CVS Health's other non-employee directors. This compensation will be prorated to reflect the actual commencement date of her service on the Board.

CVS 8-K: Leadership Changes

Summary

CVS Health Corp (CVS) announced on September 24, 2013, a significant addition to its Board of Directors with the election of Nancy-Ann M. DeParle. Ms. DeParle brings extensive experience in healthcare policy, management, and financing, having held high-level positions in the White House, including Counselor to the President and Director of the White House Office of Health Reform, and previously as Administrator of the Centers for Medicare and Medicaid Services. Her background also includes private equity experience with Consonance Capital Partners, JPMorgan Partners, and CCMP Capital, as well as board service on several prominent healthcare companies like Medco Health Solutions and Boston Scientific. This appointment is noteworthy for investors given Ms. DeParle's deep expertise and public service background, suggesting a continued focus on strategic health policy and operational excellence for CVS Health. Her determination as an "independent" director and appointment to the Audit Committee underscore the company's commitment to robust governance. Her compensation will align with existing non-employee director compensation, prorated for her commencement date.

Key Highlights

1CVS Health Corp elected Nancy-Ann M. DeParle to its Board of Directors on September 24, 2013.
2Ms. DeParle is a highly experienced healthcare policy and management expert with over 25 years in the field.
3Her past roles include significant positions in the White House (Counselor to the President, Director of Health Reform, Deputy Chief of Staff for Policy) and as Administrator of CMS.
4She has a strong background in private equity, focusing on healthcare investments, with firms like Consonance Capital Partners and CCMP Capital.
5Ms. DeParle has served on the boards of numerous prominent healthcare companies, including Medco Health Solutions, Boston Scientific, and DaVita Inc.
6She has been deemed an "independent" director by the Board and has been appointed to the Audit Committee.
7Her compensation as a director will be consistent with that of other non-employee directors, prorated for her service start date.

CVS HEALTH Corp 8-K Report, Executive Changes (Sep 25, 2013)

Summary

Key Highlights

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