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Cigna CEO Retires And Gets a $73 Million Dollar Bonus After 10 Years as Chairman and CEO

Posted Jan 05 2010 11:38am

I wonder if maybe he might be considering joining the ranks of Wendell Potter?  The article states that during his tenure with the company he had a deep commitment and respect for shareholders, customers and employers were also listed, but shareholders was first.  He stated the company is “on track” for continued success and he was honored to serve as the CEO, well I would be too if I was getting a 73 million dollar bonus out of the deal to retire.  image

Wendell Potter Speaks About the Health Insurance Industry’s Lethal Bottom Line – The Algorithms

I’m sure we might be hearing from Wendell on this at some point in time perhaps.  BD 

CIGNA insurance company’s chief executive officer and chairman of the board H. Edward Hanway’s Dec. 31, 2009 retirement comes with a $73 million dollar bonus. Hanaway retired from his posts after serving for ten years in those roles. His overall compensation in 2009 exceeded $12 million.

David M. Cordani, 43, CIGNA’s former president and chief operating officer, was named to succeed Hanway as chief executive officer effective January 1, 2010 after a transition period.

Hanway was named chairman and chief executive officer of CIGNA in 2000. Prior to that, he had served CIGNA as president and chief operating officer and held a number of roles of increasing responsibility with CIGNA and its predecessor company, Insurance Company of North America.

http://www.hcjnc.com/index.php/business.html

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