|David Rickard, CFO of CVS Corp., Named as One of the 20 Most Influential CFOs by Corporate Finance Magazine|
WOONSOCKET, R.I., Sep 21, 2004 /PRNewswire via COMTEX/ -- David B. Rickard, Executive Vice President, Chief Financial Officer (CFO) and Chief Administrative Officer (CAO) of CVS Corporation (NYSE: CVS), has been named by Corporate Finance magazine (U.K.) as one of the 20 most influential CFOs of the last 20 years. The August 2004 issue of Corporate Finance features the 20 CFOs, including Rickard, as part of the magazine's 20th anniversary celebration.
Rickard was recognized for his role in establishing CVS as the industry leader in sales performance, productivity and earnings growth, as well as his role in the successful restructuring of RJR Nabisco in the 1990s.
The magazine also cites Rickard for his philosophy in measuring the success of a CFO in terms of "the performance of a company as a whole, rather than just the finance department."
"It is no surprise that Dave has been recognized as one of the most influential CFOs by Corporate Finance magazine," said Tom Ryan, Chairman, President and CEO of CVS Corporation. "He is an important asset to our senior management team and has played a key role in growing CVS into the largest retail pharmacy in America."
Rickard, who graduated from Cornell University and holds an MBA in Finance from Harvard Business School, joined CVS Corporation as the company's CFO in 1999. Prior to coming to CVS, he held positions including Senior Vice President and CFO at RJR Nabisco Holdings Corporation, Executive Vice President in Grand Metropolitan PLC, and various senior positions at Kraft Foods, Inc.
CVS is America's number one retail pharmacy, with over 5,000 stores in 36 states and the District of Columbia. With more than 40 years of dynamic growth in the retail pharmacy industry, CVS is committed to being the easiest pharmacy retailer for customers to use. CVS has created innovative approaches to serve the healthcare needs of all customers through its CVS/pharmacy stores, its online pharmacy, CVS.com and its pharmacy benefit management and specialty pharmacy subsidiary, PharmaCare Management Services. General information about CVS is available through the Investor Relations portion of the Company's website, at http://investor.CVS.com.CONTACT: