Oak Street Health Co-Founder Departs CVS Amid Leadership Restructure and Strategic Challenges

Mike Pykosz, the co-founder of Oak Street Health and president of CVS's healthcare delivery arm, is departing from CVS less than two years after the significant acquisition of Oak Street by CVS for $10.6 billion in 2023. His departure occurs amid a broader leadership restructuring at the company, which includes multiple executive shifts such as the exit of Karen Lynch as CEO and the appointment of Steve Nelson as Aetna's president[1][2]. Pykosz has played a critical role in integrating Oak Street with CVS's healthcare delivery operations, a process marked by significant investments aimed at expanding Oak Street locations and leveraging synergies with CVS's existing healthcare assets[1]. As CVS faces profitability and operational challenges across its divisions, Sreekanth Chaguturu has been announced as Pykosz's successor, tasked with guiding the healthcare delivery segment forward[2].