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Normally, if you dump a $2 billion business, investors shake their heads in disapproval, perhaps even disbelief. But in October, when CVS removed tobacco products from its shelves, it mostly met applause. Merlo said he couldn’t justify selling customers health care services in one hand, while stocking cigarettes from the other. The move also signaled the firm’s continued focus on managing pharmacy benefits. Along those lines, Merlo announced that CVS would expand its line of “Minute Clinics,” or walk-in health clinics, from 800 locations to 1,500 by 2017. His efforts have been enriching: In a PayScale survey, Merlo was listed as the highest paid CEO compared to the average pay of his employees among Fortune 100 companies, at a ratio of 422-to-1. —R.D.