Derica W. Rice

Born: 1965, Decatur, Alabama, United States;

Compensation (2017): $7.2M;

Position: Executive VP & President of CVS Caremark;

Company: CVS Health Corporation;

Industry: Pharmaceuticals;

Country: United States

Derica Rice is Executive Vice President of CVS Health and President of CVS Caremark, the company’s pharmacy benefits management (PBM) business, since March 2018. In this role, Rice oversees all aspects of the PBM business including sales and account management, operations, mail service pharmacy and specialty pharmacy. Rice also drives PBM strategy, new business development and client relationship management and retention.


He  previously served as executive vice president of global services and chief financial officer for Eli Lilly and Company, positions he has held since January 2010 and May 2006, respectively. He retired at the end of December 2017 after 27 years of service with the company. Eli Lilly and Company is an American global pharmaceutical company with headquarters located in Indianapolis, Indiana.

Mr. Rice joined Lilly in 1990 as an international treasury associate, and served in a variety of roles, including sales representative, manager of global financial planning and analysis for the medical devices division, and global planning manager for pharmaceuticals. He then became finance director and chief financial officer for Lilly Canada, after which he was named executive director and chief financial officer for European operations based in London. Mr. Rice next served as general manager of Lilly’s U.K. affiliate and then as Lilly’s vice president and controller until he was promoted to CFO in 2006.

Board and Advisor Roles

Mr. Rice is a member of the Board of Directors of The Walt Disney Company, since January 2019. He was a member of the Board of Directors of Target Corporation from 2007 to January 2018. He also served on the board of IU Health North, and the Center for Leadership Development. He also a member of the Indiana University Board of Trustees and the Indianapolis Museum of Art’s Board of Governors.


Mr. Rice earned a bachelor's degree in electrical engineering from Kettering University and a master's degree in business administration from Indiana University.

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