When Karen Lynch became CEO of CVS Health, it was more than a milestone, it was a signal. Millions were watching. She led through the pandemic. She raised wages. She centered the patient. She broke glass ceilings again and again.

“I remember the day Karen became CEO,” says host Laurie McGraw. “I think the world stood still for a minute. I smiled. I took notice. And so did everyone else.” The accolades poured in: Forbes Most Powerful Women, Fortune’s Most Admired. But the impact went far beyond headlines.

This conversation isn’t just about what Karen accomplished at the top—it’s about the experiences that shaped her long before she got there, and the values driving how she leads today. Like many leaders, Karen’s path was forged in her beginnings. For her, those beginnings were marked by unimaginable loss: losing her mother to suicide at age 12, and just a decade later, losing the aunt who raised her. That grief left an indelible mark—a sense of urgency to fix a healthcare system she had experienced not as a leader, but as someone failed by it.

That lived experience has been her North Star. From her early days in finance to leading one of the largest healthcare organizations in the world, Karen has consistently asked: What does the patient need? And how can we make it simpler?

As a leader, she learned that courage isn’t a talking point, it’s a practice. And sometimes, it means making a hard decision that costs you. When her tenure at CVS ended, it wasn’t scandal. It wasn’t a failure. It was a choice, grounded in accountability. Because real leadership isn’t just about celebrating the wins—it’s about owning the moments that hurt.

Now in a chapter of reinvention, Karen is clear: she’s not stepping back, she’s stepping into purpose. From helping future CEOs find their voice, to launching a women’s leadership institute, to urging healthcare leaders to rebuild public trust before it’s too late, she is focused on impact over position. The title may be different. The mission is not.