CVS Health Chief Executive Officer Karen Lynch has stepped down and will be replaced by David Joyner, who runs the company's pharmacy benefit firm, Caremark.

CVS Health announced Friday it has appointed David Joyner as its new Chief Executive Officer, replacing Karen Lynch.

CVS has replaced CEO Karen Lynch with longtime pharmacy benefits executive David Joyner. The company has been struggling to drive higher profits and better stock performance. Last month, major CVS shareholder Glenview Capital began a significant push for changes at the company.