Larry Merlo.Photo by Steve Klamkin WPRO News
By Sam Wroblewski 630wpro.com
CVS President Larry Merlo will be a guest of First Lady Michelle Obama for Tuesday night’s State of the Union address in recognition of the company’s removal of tobacco products from it shelves.
“It’s quite exciting,” said Merlo, “It’s really a recognition that reflects the work of our more than 200,000 colleagues across the country.”
CVS announced it would stop selling tobacco products after it rebranded its name citing the hypocrisy of being a health-based business and stocking cigarettes. The cut of product is expected to create a near-$2 billion dollar drop in revenue.
“It is the right thing to do, it will create a short financial headwind but we believe that in the long-term we will more than offset that,” said Merlo.
Merlo said the recognition by the First Lady will only boost the CVS image and lead to more opportunity for the company.
Listen to Larry Merlo’s full interview with Gene Valicenti below:
