Jack Katz (businessman)

Jack Katz is an American businessman known primarily for his role in the founding and development of the CVS Pharmacy chain. He is often credited with transforming a small health and beauty supply shop into one of the largest pharmacy retail corporations in the United States.

Katz acquired a drugstore in Lowell, Massachusetts, in 1963, which he named CVS, an acronym for Consumer Value Stores. Initially, CVS focused on health and beauty aids, gradually expanding into pharmacy services. Under his leadership, CVS grew rapidly throughout the Northeast and then nationally. He emphasized a strategy of competitive pricing and convenient locations, which contributed significantly to the company's success.

Katz remained actively involved in the leadership of CVS until its acquisition by Melville Corporation in 1969. While he stayed on for a time afterward, his primary role shifted following the acquisition. His legacy is inextricably linked to the significant expansion and establishment of CVS as a major player in the retail pharmacy landscape.

While details of his later business ventures or philanthropic endeavors are less widely documented, his initial role in building CVS remains a significant contribution to the business world.