8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant To Section 13 Or 15(d) of

The Securities Exchange Act of 1934

Date of report (Date of earliest event reported): September 20, 2006

CVS CORPORATION

(Exact Name of Registrant as Specified in Charter)

Delaware

(State or Other Jurisdiction of Incorporation)

001-01011	050494040
(Commission File Number)	(IRS Employer Identification No.)
One CVS Drive Woonsocket, Rhode Island	02895
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (401) 765-1500

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

On September 20, 2006, the Board of Directors of CVS Corporation elected Richard J. Swift, to the Board. In addition, Mr. Swift has been named to the Audit Committee of CVS Corporation and has been designated an audit committee financial expert. CVS Corporation issued a press release on September 20, 2006 to announce Mr. Swift’s election. The full text of the release is attached as Exhibit 99.1 to the Current Report on Form 8-K.

Mr. Swift is the former Chairman of the Board, President and Chief Executive Officer of Foster Wheeler Ltd., having served in those positions from April 1994 until his retirement in October 2001. Mr. Swift is also the Chairman of the Financial Accounting Standards Advisory Council (“FASAC”), having served on FASAC since January 2002. Mr. Swift’s term expired in June 2006; however, he has agreed to continue to serve as Chairman on a month-to-month basis until his successor is appointed.

Item 9.01 Exhibits

Exhibit 99.1 Press Release Dated September 20, 2006

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CVS CORPORATION
Date: September 20, 2006	By:	/s/ David B. Rickard
	Name:	David B. Rickard
	Title:	Executive Vice President, Chief Financial Officer and Chief Administrative Officer

EX-99.1

Exhibit 99.1

Investor Contact:	Nancy Christal	Media Contact:	Carolyn Castel
	Vice President		Director
	Investor Relations		Corporate Communications
	(914) 722-4704		(401) 770-5717

RICHARD J. SWIFT NAMED TO CVS BOARD OF DIRECTORS

WOONSOCKET, RHODE ISLAND, September 20, 2006 – CVS Corporation (NYSE: CVS) today named Richard J. Swift, former Chairman of the Board, President and Chief Executive Office of Foster Wheeler Ltd. (“Foster Wheeler”), to its Board of Directors. He will serve as a member of the board’s Audit Committee.

“We are exceptionally pleased to have Dick join the CVS board. His extensive business and financial expertise combined with his experience as Chairman of the Financial Accounting Standards Advisory Council (“FASAC”) will be a tremendous asset to our Company,” said Tom Ryan, Chairman of the Board, President, and Chief Executive Officer of CVS Corporation. “We look forward to working with Dick as we continue to develop and grow our business.”

Foster Wheeler is an international engineering and construction firm with operations in over 40 countries. Mr. Swift retired from Foster Wheeler in 2001. Since January 2002, Mr. Swift has served as a member of FASAC, and is currently its Chairman. His term expired in June 2006; however, he has continued to serve as Chairman on a month-to-month basis until his successor is appointed.

Mr. Swift serves on several corporate boards, including the Public Service Enterprise Group, Ingersoll-Rand Company, Ltd, Kaman Corporation, and Hubbell Incorporated. He has extensive committee experience with each of these boards, including over 20 years experience on audit committees of public companies.

CVS is America’s largest retail pharmacy, operating approximately 6,200 retail and specialty pharmacy stores in 43 states and the District of Columbia. With more than 40 years of dynamic growth in the retail pharmacy industry, CVS is committed to being the easiest pharmacy retailer for customers to use. CVS innovatively serves the healthcare needs of all customers through its CVS/pharmacy stores; its online pharmacy, CVS.com; its retail-based health clinic subsidiary, MinuteClinic; and its pharmacy benefit management, mail order and specialty pharmacy subsidiary, PharmaCare. General information about CVS is available through the Investor Relations portion of the Company’s website, at http://investor.cvs.com, as well as through the pressroom portion of the Company’s website, at www.cvs.com/pressroom.