CVS Health Corp (NYSE:CVS) is set to face renewed pressure as hedge fund Glenview Capital Management, led by founder Larry Robbins, plans to meet top executives, including CEO Karen Lynch, to discuss operational improvements.
The meeting with Glenview comes as part of Robbins’ broader strategy to push for change, the Wall Street Journal reports.
Also Read: Pharmacy Chains Like CVS Health, Walgreens Boots Alliance Confront Shifting Consumer Habits And Profit Pressures.
Robbins, who has built a substantial $700 million position in CVS, sees potential for the company to revitalize its struggling business without resorting to a breakup.
Robbins is expected to propose cost-cutting and restructuring strategies but will not push for a breakup of CVS. Another hedge fund has also built a notable position in the company, hinting at further pressure from investors.
CVS, one of the ...
