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CVS Health Founder Passes Away

Stanley Goldstein died on May 21 at age of 89
CVS founder
Stanley P. Goldstein

CVS Health Corp. co-founder Stanley P. Goldstein died at the age of 89. The company he helped build is a foundational component of what is now CVS Health.

“All of us at CVS Health mourn the loss of Stan, who was a true business pioneer, an outstanding mentor, and a caring leader," said Karen Lynch, president and CEO of CVS Health. "Stan's philosophy was to always listen to our customers and if we made sure to satisfy them, we would succeed. That idea of customer-centricity still drives us today. We honor Stan's memory and offer our sincerest condolences to his family, friends, and former colleagues."

Goldstein, his brother, Sid, and a partner, Ralph Hoagland, opened the first Consumer Value Store in Lowell, Mass., on May 9, 1963. The company continued to evolve and grow under Goldstein's leadership, focusing on pharmacy, health and beauty care. CVS became a publicly traded company in November 1996. Goldstein was its first chairman of the board, serving in that role until April 1999, and he continued to serve on the board until 2007.

With its CVS Pharmacy subsidiary, Woonsocket, R.I.-based CVS Health has over 300,000 colleagues – including more than 40,000 physicians, pharmacists, nurses and nurse practitioners. The company is No. 5 on The PG 100, Progressive Grocer’s 2024 list of top food and consumables retailers in North America.  

This article was originally covered by sister publication Drug Store News

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