Shareholders of CVS Health (No. 50 on the DiversityInc Top 50 Companies list) re-elected all eleven standing members of the CVS Health Board of Directors and voted to elect the Honorable Mary L. Schapiro, the 29th chairman of the U.S. Securities and Exchange Commission (SEC), as a new member of the company’s Board on May 10 during the company’s Annual Meeting of Stockholders.
The standing CVS Health directors who were re-elected to the Board include: Richard M. Bracken; C. David Brown II; Alecia A. DeCoudreaux; David W. Dorman (Chairman); Nancy-Ann M. DeParle; Anne M. Finucane;Larry J. Merlo; Jean-Pierre Millon; Richard J. Swift; William G. Weldon; and Tony L. White.
In welcoming Schapiro to the corporate board, Chairman David W. Dorman commented on the unique expertise she would bring to CVS Health.
“We welcome Mary’s extraordinary record of leadership and unmatched commitment to investor protection and sound financial policy,” said David W. Dorman, Chairman of the Board, CVS Health. “Her extensive knowledge of the U.S. financial and regulatory landscape and understanding of corporate governance and complex financial infrastructure will be of great value to the board and benefit to CVS Health and its stockholders.”
Schapiro currently serves as the Vice Chair of Promontory Advisory Board, part of Promontory Financial Group, a leading strategy, risk management and regulatory compliance firm that was acquired by IBM Corporation inNovember 2016.
From January 2009 through December 2012, Ms. Schapiro was Chairman of the U.S. Securities and Exchange Commission, becoming the first woman to serve as that agency’s Chairman. During her four years leading the agency which followed the 2008 financial crisis, the SEC pursued one of the busiest rulemaking agendas in its history. Additionally, the agency executed a comprehensive restructuring program to improve protections for investors.
Before becoming SEC chairman, Ms. Schapiro served as CEO of the Financial Industry Regulatory Authority, the largest nongovernmental regulator of securities firms. Earlier, she was Commodity Futures Trading Commission (CFTC) chairman and a commissioner of the SEC. She began her career at the CFTC, serving first as a trial attorney and later as counsel and executive assistant to the chairman.
In addition to being the first woman to serve as SEC chairman, Ms. Schapiro is the only person to have served as chairman of both the SEC and the CFTC.
Ms. Schapiro is also a director of General Electric Company and the London Stock Exchange Group. A graduate of Franklin and Marshall College, she received a JD from George Washington University.