Cigna Promotes Company Veteran to CFO Role
By Nina Trentmann
Cigna Corp. promoted a company veteran to chief finance officer,
part of a wider management reshuffle at the health-care services
Bloomfield, Conn.-based Cigna, which provides a range of health
insurance and benefits programs, on Thursday said it named Brian
Evanko, currently president of its government business, as its
executive vice president and new finance chief, effective Jan. 1.
Mr. Evanko joined Cigna in 1998 and has held various leadership and
finance roles during his 22-year career, the company said.
Cigna's current CFO Eric Palmer, who has held the role since
June 2017, will become president and chief operating officer of
Evernorth, a Cigna subsidiary that offers benefit management, care
and pharmacy services and was launched in September. Mr. Palmer
also joined Cigna in 1998.
The management changes are aimed at accelerating growth at the
company's main brands, Cigna said. Revenue for the nine months
ended Sept. 30 was $118.7 billion, up from $115.3 billion in the
prior-year period. Net income was $4.3 billion as of Sept. 30,
compared with $4.1 billion the year before.
Health-care services companies have been consolidating in recent
years following tie-ups between major players, including CVS Health
Corp.'s takeover of Aetna Inc. and Cigna's $54 billion acquisition
of Express Scripts Holding Co., which closed in December 2018.
However, not all merger or takeover agreements gained regulatory
approval. Cigna's plan to combine with Anthem Inc. collapsed in
2017. The ensuing litigation led to a judge in August deciding that
Cigna and Anthem won't have to pay damages to one another.
The company on Thursday filled additional roles with company
insiders, including leadership roles for strategy and business
development, government and solutions, and president of its
Medicare and Express Scripts businesses.
"The depth and breadth of our leadership team are a key strength
of our organization," Chief Executive Officer David Cordani said in
Cigna didn't immediately respond to a request for additional
--Dave Sebastian contributed to this article.
Write to Nina Trentmann at Nina.Trentmann@wsj.com
(END) Dow Jones Newswires
December 10, 2020 13:51 ET (18:51 GMT)
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