Is it transparent to anyone else that Karen wrote that book to back her Board into a corner by not firing her now that she’s immortalized her face as the CEO of CVS Health on the cover? And why do executives (and spouses of executives) at CVS Health hold board seats on her husband‘s charity, the Quell Foundation? Oak Street and Signify were bad decisions and now the company will probably not recover from it unless drastic measures are taken. Yet, she is still treated with kid gloves and deliberately brought in Brian Kane to be the sacrificial lamb if she found herself in this very predicament. Her protégé Katerina is the real mastermind here—she would turn mother Teresa herself into stone at the sight of her…wake up Board and appoint a new chief before this company gets butchered apart even more.
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Well at least we get to call each other colleagues. Lol. What a joke, we’re employees and that’s that. Karen Ly--h is a joke, a 60+ year old joke who has to put on her fake look, highly paid makeup “artist” follows her everywhere and plasters that cr-p on her…. , I’m guessing the makeup person won’t lose her job when the thousands of layoffs start soon. Perhaps Karen Ly--h could get rid of all the company limo suvs and the new helicopter and keep a few emplotees (we’re not colleagues!!).
The board should be ashamed they hired based on gender instead of talent. Worst CEO ever!!!!!!
The board could be putting Karen to the test by putting her in charge and expecting a turnaround. If she fails, there is no one else to blame. Time will tell.
I believe that Karen is a creation of the board. The sum of CVS's parts are probably three of the least liked industries by consumers. Insurance...you pay a fortune in and they give you a heard time when you ask them to cover an expense. PBM's and to a certain extent Pharmacies are the target of consumer's ire relative to high prices prescriptions, poor customer service, etc. The pivot to health care requires a softening and improvement of these perceptions among consumers and the books, the Fortune articles, etc. are all part of a P.R. campaign to soften CVS's image with Karen as the figure head. Blame the Board and the absence of serious analysis by the Financial Community.
To answer the question about Karen's bonus being bumped up 120% due to her performance:
Bonuses were funded at 83% in March. Karen's scorecard gave her a multiplier of 120% due to her "exceptional performance" in 2023 (in my opinion, this is equal to getting a 5 on your scorecard). So her bonus was 83% X 120% = 99.6%. She essentially got 100% of her bonus ($3 million total), while the rest of the company was told the company results were NOT good, and bonuses were funded at 83%.
That interview was laughable. No tough questions and she just regurgitated the same talking points over and over again. It really showed her lack of knowledge and depth. What a sad state of affairs.
I want no one to get laid off. That’s an indication that things aren’t getting better and that scares the he-l out of me. These tone deaf elites have sc--wed this economy up. Time for someone that actually works takes over and fix this mess!
She got a 120% adjustment this year?
Totally! KL owns this mess and sandbagged BK when the cake was already baked. The board is covering for her by giving one last chance, but it certainly is not deserved given these have been her decisions all along.
Watch her spew her BS.
https://youtu.be/Bsy8WRMUsxI?si=CS-hNWyJhMdyCWUW
To the previous poster Karen is simply Larry 2.0 Remember that Larry's departure was somewhat abrupt, so he needed someone who would continue his vision for the company, and continue to do things his way.
Does nobody remember our previous CEO? We had 60 less demand hours per week, even in busy stores you were always by yourself. Karen has done many good things, some things are beyond control, stop complaining about her, trust me it could be so much worse.
It will take a few years but soon you will be begging for a job....
You clearly dont understand how the 1% operate.
The board gave her a 120% performance adjustment on her year end review. They every bit as corrupt and utterly useless as she is.
Yup! If she were a male he would have been fired already. The board is a supreme failure if you ask me. This is the same board that approved Karen's disastrous acquisitions...what the fu-k are they getting paid for?