CVS (CVS) stock fell greater than 6% following news that the pharmacy chain will replace its CEO Karen Lynch with one other company executive, David Joyner.

Shares are down nearly 20% this 12 months as the corporate has been under pressure from Glenview Capital Management, a hedge fund pushing for changes, in keeping with the Wall Street Journal, which first reported the news of Joyner’s appointment. CVS has been reportedly reviewing strategic options that would include a breakup.

David Joyner, the manager vp of CVS Health and president of the chain’s pharmacy health services business, CVS Caremark, replaced Lynch as of Thursday, CVS said. Lynch had been CEO since 2021.In an interview with the Journal, Joyner said the corporate would move forward intact.

CVS also said in a release Friday that it expects adjusted third-quarter earnings per share of $1.05 to $1.10, lower than the $1.70 forecast by Wall Street analysts, in keeping with Bloomberg consensus estimates. CVS said investors should now not depend on its previous full-year 2024 earnings guidance — which it has already repeatedly lowered — given “continued elevated medical cost pressures within the Health Care Advantages segment.”