Foulkes named president of CVS pharmacy

Helena Foulkes, a veteran with more than two decades of experience with CVS Caremark, will become president of the retail chain’s pharmacy business effective Jan. 1.

Foulkes will replace Mark Cosby, who has served as retail president since October 2011 and will resign on Dec. 31, according to a statement from the company.

CVS Caremark CEO Larry Merlo said the company needs "a leader who truly understands the healthcare consumer and the opportunities we can deploy to attract and retain customers and generate strong, longer-term growth" as healthcare evolves.

Foulkes, 49, currently serves as the company's chief healthcare strategy and marketing officer.  CVS did not provide a reason for Cosby’s departure.