A pharmacist by training with over 30 years in the industry, Merlo joined CVS in 1990 via its acquisition of Peoples Drug Stores. He has played a key role in the company's evolution from CVS, a large regional drug chain, to CVS Caremark, the nation's largest pharmacy health care provider. Under Merlo's leadership, CVS completed some of the most successful acquisitions in the history of retail pharmacy — including Longs Drug Stores, Osco/Sav-on, Eckerd and Revco — and delivered significant organic growth in major markets. "Larry Merlo sets high expectations for his leaders, builds collaborative winning teams and establishes clear accountability in delivering results," said board member David Dorman, who will become nonexecutive chairman upon Ryan's retirement. "The board has recognized this from his many accomplishments.