CVS Health Names Neela Montgomery President of CVS Pharmacy
Former Crate & Barrel CEO is a leader in e-commerce retail
CVS Health Corporation (NYSE: CVS) has announced that Neela Montgomery has been named Executive Vice President and President of CVS Pharmacy/Retail, effective November 30, 2020. Montgomery will oversee the company's 10,000 pharmacies across the United States.
"Neela is a seasoned retail industry leader with extensive digital and e-commerce experience," said Karen S. Lynch, who will become President and CEO of CVS Health in February 2021. "She brings deep consumer insights that will allow us to better anticipate consumers' changing needs and deliver even more value to our customers in local, personalized ways. Neela is well-positioned to lead CVS Pharmacy today and into the future."
Montgomery, currently a Board Partner at venture capital firm Greycroft, most recently served as chief executive officer of furniture retailer Crate & Barrel and has nearly 20 years of global retail experience. As CEO of Crate & Barrel, she transformed its online sales channel to more than 50 percent of the company's total revenue. In 2019 she was named to the "Top Women in Retail" list by the Women in Retail Leadership Circle. Prior to Crate & Barrel, she served as Group Executive Board Member of the Otto Group, a global retail and services group and one of the leading e-commerce retailers in the world.
Before joining Otto, she served as UK General Merchandise Director at Tesco PLC, the British multinational retailer and a top 10 international retailer. She held a number of senior management positions with Tesco, including UK e-commerce director and chief merchant for Tesco Malaysia.
"I am thrilled to lead CVS Pharmacy with its 190,000 dedicated colleagues and join such an outstanding leadership team," said Montgomery. "CVS Pharmacy plays a unique and important role in the health needs and lives of Americans. Increasingly these health care touch points will be digital, virtual and in-person. This is a fantastic opportunity to help accelerate the company's bold vision to deliver consumer health services in the community and ensure CVS Pharmacy plays an essential role in customers' health moments."
Montgomery will report directly to Lynch and become a member of the company's executive team. She earned a Bachelor of Arts degree in Literature and Language from Oxford University and holds an MBA from INSEAD in France and Singapore.
Montgomery is a member of Logitech's board of directors and was named a 2020 Henry Crown Fellow at the Aspen Institute.
CVS Pharmacy has performed a critical role during the pandemic, providing essential goods and pharmacy services, as well as the most COVID-19 testing of any retailer. When COVID-19 vaccines become available, CVS Pharmacy will be on the frontlines of vaccine administration. The company, which will provide nearly 20 million flu vaccines this year, has reached agreements with the Department of Health and Human Services to provide COVID-19 vaccines to long-term care facilities and to the general population.
More information on steps CVS Health has taken to address the COVID-19 pandemic is available at the company's frequently updated COVID-19 resource center.