CVS Health Appoints New CFO & CMO Amid Executive Restructuring

CVS Health named Brian Newman CFO and Dr. Amy Compton-Phillips CMO amid executive restructuring and ongoing financial recovery efforts.

CVS Health has announced two senior leadership appointments for its ongoing executive restructuring.

Former UPS executive Brian Newman will join as chief financial officer (CFO) on April 21, replacing Thomas Cowhey, who has served in the role since January 2024. Cowhey will transition to a strategic advisor role to CVS Health President and CEO David Joyner, effective May 12.

The company has also named Dr. Amy Compton-Phillips as executive vice president and chief medical officer. She will begin her tenure on May 19, succeeding Dr. Sreekanth Chaguturu, promoted in November 2024 to executive vice president and president of Health Care Delivery.

Brian Newman to Take Over as CFO on April 21

Newman previously served as executive vice president and CFO at United Parcel Service. Before that, he held executive positions at PepsiCo for over two decades. Cowhey’s transition follows his role during a financially turbulent year for CVS Health, where the company missed earnings targets in the first three quarters of 2024 and withdrew its annual forecast in October.

Despite this, CVS stated that it expects to “meet or exceed” its financial guidance for 2025, including a projected operating cash flow of approximately $6.5 billion. In the fourth quarter of 2024, total revenue rose by 4.2% to $97.7 billion.

Commenting on the appointments, CVS Health CEO David Joyner said, “As I continue to build out my leadership team, I am confident that Brian and Amy will help us continue the momentum we have built over the past several months as we execute on our strategy to deliver better health care to the 185 million Americans we are privileged to serve.”

Dr. Amy Compton-Phillips, Named Chief Medical Officer, Joins May 19

Dr. Compton-Phillips previously served as chief physician executive at Press Ganey, a healthcare performance improvement company. She is a board-certified internist with prior leadership experience at Providence Health & Services and Kaiser Permanente.

She replaces Dr. Chaguturu, who now oversees the company’s broader healthcare delivery initiatives following his promotion in November.

CVS Health, which operates over 9,000 retail pharmacy locations and 1,000 walk-in and primary care clinics, continues to focus on expanding its healthcare services. Its pharmacy benefits manager program also serves over 90 million plan members.