CVS Health Corp (NYSE:CVS) has appointed Thomas Moriarty as chief of policy and external affairs. This is a newly created position. Moriarty is the former general counsel. Just like in his previous position the new chief of external affairs and policy will be reporting directly to Larry Merlo, the chief executive officer and president of CVS Health.
Following the appointment, various departments at CVS Health namely public policy, government affairs, legal and corporate communications will now be under one unit with a view to managing the external affairs of the drugs retailer in state capitals around the country as well as in Washington, D.C.
Public policy
The role of Moriarty will be to help in impacting and shaping public policy at both the state and federal level for the benefit of CVS Health. He will also be instrumental in promoting the role of CVS in the reshaping of a healthcare sector that delivers better patient outcomes by being affordable and accessible.
“[Moriarty] brings a tremendous wealth of public policy expertise to his expanded responsibilities that allow us to bring greater value to the health care system,” said Merlo.
The new chief of external affairs and policy at CVS Health has been working at the drug retailer for five years now during which time has held a couple of senior positions. This includes serving as the Red Oak Sourcing chairman, as a chief strategy officer and as a general counsel.
Billion Dollar Roundtable
The appointment comes a day after CVS Health received the recognition of the Billion Dollar Roundtable advocacy group for the promotion of diversity in the supply chain. This came after the company spent more than $1 billion in deals with diverse suppliers.
The largest pharmacy innovation firm in the United States now joins 26 other major corporations which offer thought leadership on key issues with regards to supplier diversity. Member companies of the Billion Dollar Roundtable spend at least $1 billion annually sourcing for services or products from businesses owned by women and minorities.
On Thursday shares of CVS Health Corp declined marginally by 0.03% to close the day at $77.01.
