Morning Briefing
Summaries of health policy coverage from major news organizations
Anthem CEO Stepping Down Following Collapse Of Cigna Deal
Anthem Inc. Chief Executive Joseph R. Swedish will step down, and veteran managed-care executive Gail K. Boudreaux will take over as the insurance giant’s next leader Nov. 20. Ms. Boudreaux will take the titles of chief executive and president, the company said. She will also join Anthem’s board. Mr. Swedish will remain as executive chairman until May 2018 and will be a senior adviser through May 2020. (Wilde Mathews, 11/3)
A statement Monday from Indianapolis-based Anthem gave no reason for the departure of Swedish, who has led the insurer for more than four years. Boudreaux, 57, served as a CEO of UnitedHealthcare, the health insurance arm of UnitedHealth Group Inc., until November 2014. (11/6)
Swedish will serve as Anthem’s executive chairman and step down from that role in May next year. He will be senior adviser through May 2020, the company said. Swedish orchestrated Anthem’s $54 billion merger proposal to smaller rival Cigna Corp (CI.N) in 2015, which was ultimately scrapped due to regulatory issues. (11/6)
Swedish's career in healthcare spans more than four decades. He has worked for Indianapolis-based Anthem, a licensee of the Blue Cross and Blue Shield Association, since 2013 when he replaced Angela Braly as president and CEO. He became chairman in 2015. (Livingston, 11/3)
In other health industry news —
Kaiser Permanente reported double-digit increases in operating revenue, operating income and net income in the third quarter of 2017 compared with the year earlier period. Operating revenue for the Oakland, Calif.-based hospital and health plan giant climbed 11.5% to $18.3 billion from the prior-year quarter. In the same period, operating income grew 20.9% to $850 million. (Barr, 11/4)
