CVS Health has added four new board members, including the chief executive of a hedge fund that has been critical of the struggling healthcare giant. The company said Monday that it expanded its board to 16 members following “productive discussions” with shareholder Glenview Capital Management.

CVS Health said on Monday it named four new members to its board of directors as part of a deal with activist investor Glenview Capital as the healthcare company continues to fight its way out of its brutal 2024.

CVS Health Corp. named Glenview Capital Management founder Larry Robbins to its board as part of an agreement with the activist firm that’s been pressuring the company for change. Most Read from BloombergIn Cleveland,

CVS Health said four new members will be added to its board from the hedge fund Glenview Capital, which had been pushing for changes at the diversified healthcare giant.

CVS has withdrawn its guidance for this year and offered investors no outlook for the next amid struggles in both the pharmacy and insurance businesses.

As we strive to improve financial and operational performance, these new members will bring fresh ideas and strong market and industry experience, CVS Health Executive Chairman Roger Farah said in a statement. The action coincides with CVS trying to restore investor trust and answer Glenview's worries about unrealized potential.

CVS Health adds four new board members after engagement with activist investor Glenview Capital Management, boosting shareholder value.

CVS Health said on Monday it would add four new members to its board in an agreement with Glenview Capital Management, including the hedge fund's chief executive Larry Robbins. Longtime investor Glenview Capital Management bought 2.

Shares of CVS Health (NYSE:CVS) rose 2.8% in premarket trading on Monday following a report from the Wall Street Journal that the company will expand its board as part of an agreement with Glenview Capital Management,