CVS CEO Larry Merlo’s pay jumps to more than $18 million
March 20th, 2013 at 5:00 am by Ted Nesi under Nesi's Notes, On the Main Site
By Ted Nesi
WOONSOCKET, R.I. (WPRI) – CVS Caremark CEO Larry Merlo’s pay package jumped by a third to total more than $18 million in 2012, up from $12 million the previous year, according to an SEC filing.
• The Saturday Morning Post: CVS Caremark is on a hot streak (Feb. 23)
Tags: business, companies, compensation, cvs caremark, executive pay, larry merlo
Nesi's Notes covers politics and the economy in and around Rhode Island for WPRI.com. (Twitter: 
Given all the tax subsidies we give to CVS, does this make Merlo the highest paid state employee in Rhode Island?
Just curious. What exactly does he do that he deserves that much money. Would CVS fail if he made 250.000 annually. Just asking.
if he made all that money in ri, he paid about $1 million in state taxes. thats at 6%.
and i doubt he is the highest earner in ri. you would have to look to the east side of providence for those 1%ers.
CVS are wallet rapers and understaff their stores. They are crooked and disgusting. Plus now, if you are overwieght, they wanna charge you more for health insurance?
Guess this SOB CEO is looking to pocket more money for the coming years. Jerk.
^^^^The higher costs of health insurance would be to CVS employees….
I just had to complete a WebMD survey and a healthscreening by a DR and give CVS the results in order not to be charged an extra $600/year in health insurance. Tell me this isnt an invasion of privacy????? And yet Larry can give himself a big fat raise????
He is also a age discriminator, you get to a certain age and he will fire you. makes me sick
Almost all the posts here so far are a perfect example of why Rhode Island is the high unemployment, high tax corrupt sewer it is today. The guy is successful it’s a private company that generates profits for the shareholders, which is the point of a business. But being successfull in RI brings out a torrent of losers and class warriors who think they are better off by dragging someone else down rather than working on trying to improve their own situation. And yeah go ahead yank those tax subsidies, I’m sure CVS would be more than happy to take their jobs somewhere else that already has lower taxes, then we’ll all be better off right?
Cosmo, you wannabe one percenters always sucking up to the plutocratic class. Everyone who works earns their money, but the CEO class are way overpaid. Please explain to me how someone is worth so much, especially since RI is throwing away taxpayer money on tax breaks. They can’t cry poor mouth and pay such ridiculous wages at the same time. Guess that’s why Heath insurance is so expensive, CVS is making a killing overcharging for meds.
Snow you are a public sector employee which makes you a work fare reciepent. It does not mean you work, you report to an office and get paid. Get out in the private sector like the rest of us.
Probably one of the invisible signatures on the EngageRI 1st year law student polemic on the pension lawsuit.
If Rhode Islands corporate income taxes and regulations were not so antibusiness, there would be no reason to give companies like CVS, Fidelity, Bank America, Citizens Banks, MetLife, and many others tax incentives. Right now companies can’t leave Rhode Island quick enough. The population is getting older, more unskilled and dependent on government for support. Who is going to pay all these public sector employees thta includes public school teachers, salary, benefits and pensions when there are no companies in the state paying taxes? It is time for all cities and towns to take chapter 9!
Remind me to stop buying my prescriptions at cvs!
– they are threatening to leave RI if their gigantic subsidy doesn’t continue. How ungrateful of them.