Express Scripts has named Wal-Mart executive Cathy Smith as its new executive vice president and chief financial officer, several months after the last CFO’s departure.
The St. Louis County-based pharmacy benefit management services company announced in July that Jeff Hall would no longer serve as its chief financial officer. Cowen and Co. analyst Charles Rhyee said then that the announcement was a major surprise, and it could prove to be a positive catalyst as Express Scripts executives push their message about growth opportunities for the company.
Smith, 50, has served as Walmart International’s chief financial officer and executive vice president of strategy since early 2010. She was recently passed over for a promotion to CEO of the international division, which has more than 6,100 stores in 26 countries. Smith’s initial base salary at Express Scripts will be $725,000, and she will receive a one-time signing bonus of $500,000 as well as some restricted stock units.