Dive Brief:
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Health insurance giant Cigna Corp. on Thursday named its president of government business, Brian Evanko, executive vice president and CFO, effective January 1, as part of a wider management reshuffle.
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Evanko joined the Bloomfield, Connecticut-based insurance and benefits corporation in 1998, and has held various financial and actuarial leadership roles.
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Cigna's current CFO of three-and-a-half years, Eric Palmer, will move into the role of president and COO of new health-services subsidiary Evernorth, which has shown demonstrable growth in the third quarter.
Dive Insight:
The promotions and moves are part of a plan to accelerate the growth of the company's main brands, it said. Revenue between January and October was $118.7 billion, up from $115.3 billion in the same period last year, according to the Wall Street Journal, and net income jumped to $4.3 billion from $4.1 billion in 2019.
The past several years have been littered with healthcare companies consolidating, including CVS and Aetna's "vertical megamerger" of CVS and Aetna, and Cigna's acquisition of Express Scripts, both of which were finalized in late 2018, Healthcare Dive reported.
Alongside Evanko and Palmer, Cigna shared news of a wide executive shuffle among its top players, including moving its chief value officer, Everett Neville to executive vice president of strategy and business development, Medicare Advantage president Aparna Abburi to president of Medicare; and Express Scripts supply chain SVP Amy Bricker to Express Scripts president.
"The depth and breadth of our leadership team are a key strength of our organization," CEO David Cordani said in the release. "Our long-standing commitment to talent development allows us to strategically place our seasoned team of leaders in key positions that will maximize value-creation and value-generation for our customers, clients, and shareholders."
