Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Mark Cosby will oversee CVS.com and the chain’s 7,200 retail stores.
CVS Caremark Corp. has hired Mark Cosby as the new president of the CVS/pharmacy retail division. When he starts Oct. 1, Cosby will succeed Larry Merlo, who led the company’s retail business before becoming CEO of CVS Caremark in March.
Cosby will oversee all aspects of the retail business, the retailer says, including CVS.com, 7,200 retail stores and 19 distribution centers.
"We're delighted that Mark is joining our team," Merlo says. "His valuable experience at major retailers in operations and strategic planning makes him an excellent choice to lead our retail business going forward.”
CVS Caremark is No. 83 in Internet Retailer’s Top 500 Guide. Sears is No. 7 and Macy’s is No. 17.