By Colin Kellaher


Cigna Group's longtime leader, David Cordani, is retiring as chief executive of the health insurer later this year and handing the reins to 28-year company veteran Brian Evanko.

Cigna on Tuesday said Evanko, currently president and chief operating officer, will become CEO of the Bloomfield, Conn., company on July 1, while Cordani will become executive chairman.

Cordani, 60 years old, joined Cigna in 1991. He has been CEO since 2009 and chairman since 2022.

Evanko, 49, joined the company in 1998 and become president and chief operating officer last March.

Evanko, who has played an increasingly prominent role in Cigna's earnings calls and other public events recently, is seen by investors as unlikely to change direction at the big healthcare company, which is parent to a large pharmacy-benefit manager as well as its insurance unit.

Analysts at J.P. Morgan said they believe Cigna remains in capable hands under Evanko, who was elevated last year to provide broader oversight across the company.

Cigna's change at the top comes as the nation's largest health insurers face growing blowback about the rising cost of health insurance, including from the Trump Administration.

The White House in January released a healthcare framework that seeks to lower prescription-drug prices, increase price transparency and redirect federal subsidies from insurers to consumers.

Under Cordani, Cigna has worked to get ahead of efforts to reform pharmacy-benefit managers, recently announcing changes to its business model and a settlement with the Federal Trade Commission.

Cigna said Evanko will receive an annual base salary of $1.3 million as CEO, along with an annual bonus target of $2.6 million, adding that he will join the board on April 1.

Cigna also said Eric Foss, a board member since 2011, will succeed Eric Wiseman as lead independent director on April 1. Wiseman, a director since 2007, will remain on the board.

The company also reaffirmed its 2026 adjusted-earnings forecast of at least $30.25 a share.


Write to Colin Kellaher at colin.kellaher@wsj.com


(END) Dow Jones Newswires

03-03-26 1108ET