CVS Co-Founder Dies at 89

CVS Health (formerly CVS Corporation) recently said that CVS Corporation's co-founder, Stanley P. Goldstein, passed away at the age of 89. The company he helped build is a foundational component of the brand today, said CVS.

“All of us at CVS Health mourn the loss of Stan, who was a true business pioneer, an outstanding mentor, and a caring leader," said CVS Health president and CEO, Karen S. Lynch, in a statement. "Stan's philosophy was to always listen to our customers and if we made sure to satisfy them, we would succeed. That idea of customer-centricity still drives us today. We honor Stan's memory and offer our sincerest condolences to his family, friends, and former colleagues."

Goldstein, his brother Sid Goldstein, and partner Ralph Hoagland opened the first Consumer Value Store in Lowell, Massachusetts in 1963. The company continued to evolve and grow under Stanley Goldstein's leadership, focusing on pharmacy, health, and beauty care.

CVS became a publicly traded company in 1996. Goldstein was its first chairman of the board, serving in that role until April 1999. He continued to serve on the board until 2007.