Name: Eva Boratto
Previous title: Chief financial officer, Bath & Body Works
New title: Chief financial officer, Cencora
Boratto, a finance executive with a long track record in the pharmacy supply chain, will start as Cencora’s CFO at the end of June, the drug distributor said on Wednesday.
She’s replacing James Cleary, who announced his retirement earlier this year. Cleary will stay on in an advisory capacity through the end of this year.
Though Boratto is joining Cencora from personal care retailer Bath & Body Works, she previously spent more than a decade at healthcare juggernaut CVS Health in a variety of financial leadership roles, including CFO from 2018 to 2021. Prior to joining CVS, Boratto spent more than 20 years at drugmaker Merck, according to Boratto’s LinkedIn profile.
Cencora CEO Robert Mauch cited Boratto’s “deep healthcare expertise” and “experience leading complex, global finance organizations” in a press release announcing her appointment.
During Boratto’s time at CVS, the executive was the finance chief of CVS’ major pharmacy benefit manager Caremark, before being appointed chief accounting officer and then CFO of the entire enterprise, according to her LinkedIn. That experience should serve Boratto well at Cencora, analysts said.
“We see the hiring of Eva Boratto as CFO as eliminating an uncertainty for [Cencora], with our next focus being what changes, if any, Boratto brings to the financial forecasting/operating side taking over from long-time successful CFO Jim Cleary,” Leerink Partners analyst Michael Cherny wrote in a note on Boratto’s appointment.
“Her time as CFO at CVS was during a period of incredible complexity, including the bulk of the Aetna deal closing and early integration, so stepping into the [Cencora] role should be more straightforward,” Cherny added.
Cencora has seen solid revenue growth over the past few years, but that growth has been slowing amid market pressures like manufacturers cutting prices on brand-name drugs.
In response, Cencora has been expanding more into specialty service offerings, which generally come with higher margins and boost the drug distributor’s core business.
Since the start of last year, Cencora has spent roughly $10 billion to acquire a majority stake in management services organization Retina Consultants of America, a majority stake in cancer care platform OneOncology and EyeSouth Partners’ retina business.
Along with announcing Boratto’s appointment Wednesday, the Pennsylvania-based company also reaffirmed its 2026 guidance for adjusted diluted earnings per share of between $17.70 and $17.90, and guidance for long-term earnings growth of 10% to 14%.
