Rhode Island’s new Governor Helena Foulkes spent 25 years at CVS and lost her first election—she says failure and bad bosses made her a better leader

Helena Foulkes, a former Fortune 500 executive, was elected as the new governor of Rhode Island in Tuesday’s 2026 midterm elections. Before her political career, Foulkes spent 25 years at CVS, eventually becoming president of its pharmacy division. She also briefly served as CEO of Hudson’s Bay Company before her gubernatorial stint.

Foulkes, who has been named one of Fortune’s Most Powerful Women twice, credits her career successes to viewing failure as an opportunity rather than a dead end. She achieved this mindset through her experiences at various companies, including CVS, where she played a key role in developing the company’s loyalty program and led the decision to stop selling tobacco.

Foulkes also faced scrutiny over the company’s role in the opioid crisis during her gubernatorial campaign. After leaving CVS, Foulkes became CEO of Hudson’s Bay Company but only remained in the position for two years, as she felt the path to the top was taking too long. This willingness to take risks has carried over into her political career, where she is now facing new challenges in the governor’s office, such as affordability and data center development.