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Cordani Becomes CIGNA CEO

^{Published on 2010-01-04 10:30:10 - Market Wire}
 

PHILADELPHIA--([ BUSINESS WIRE ])--David M. Cordani has become president and chief executive officer of CIGNA Corporation (NYSE: CI). Cordani, 43, most recently served as president and chief operating officer for CIGNA and has 18 years of experience with the company.

"He has led our strategic planning effort which sets the stage for continued growth. David is a passionate leader and the board of directors and I are looking forward to working with him in the coming years."

In addition, Isaiah "Ike" Harris, Jr. has become the chairman of the board for CIGNA. Harris was previously vice chairman of the board and has been a CIGNA director for the past five years.

"CIGNA is positioned to be the leading global health service company and we are excited about the opportunities for growth for years to come," said Cordani. "We have a strong team, a high-quality, global network of the best doctors and hospitals and a broad, global service franchise. At CIGNA, we have continued to innovate our products, clinical and service programs and are positioned to do well in a changing global marketplace by delivering better, differentiated value to our customers and clients."

"David has guided the corporation to industry-leading service and clinical results in the face of a global recession as our president and chief operating officer," noted Harris. "He has led our strategic planning effort which sets the stage for continued growth. David is a passionate leader and the board of directors and I are looking forward to working with him in the coming years."

Cordani has served as president and chief operating officer of the company since June 2008, with strategic and operational responsibility for CIGNA's HealthCare, Group Insurance and International businesses. Cordani joined CIGNA in 1991 and prior to his appointment as president of CIGNA HealthCare in 2005, served as president of Health Segments for CIGNA HealthCare and as senior vice president and chief financial officer of CIGNA HealthCare

Prior to joining the company, Cordani was with Coopers & Lybrand, a predecessor firm of PricewaterhouseCoopers. Cordani serves on the boards of directors for the America's Health Insurers Plans, National Association of Manufacturers, the Connecticut Business and Industry Association and the CIGNA Foundation. He holds a bachelor's degree in science from Texas A&M University and graduated with a master's degree in business administration (MBA) from the University of Hartford. Cordani is a chartered financial consultant and a certified public accountant.

Harris, 57, has been a director of the company since 2005. He held numerous executive positions with oversight responsibilities for various business, operational, and finance functions at BellSouth (now part of AT&T) until 2007, including president and chief executive officer of Advertising and Publishing Group, President BellSouth Enterprises, which included the company's international operations, and as chief financial officer of BellSouth Telecommunications, Inc. Harris previously served as vice president and corporate controller of Supervalu, Inc. and also spent 13 years with KPMG as a certified public accountant. Harris is currently a director of Deluxe Corporation and an independent trustee of Wells Fargo Advantage Funds.

Forward Looking Statements

The Company and its representatives may from time to time make written and oral forward-looking statements, including statements contained in press releases, in the Company's filings with the Securities and Exchange Commission, in its reports to shareholders and in meetings with analysts and investors. Forward-looking statements may contain information about financial prospects, economic conditions, trends and other uncertainties. These forward-looking statements are based on management's beliefs and assumptions and on information available to management at the time the statements are or were made. Forward-looking statements include but are not limited to the information concerning possible or assumed future business strategies, financing plans, competitive position, potential growth opportunities, potential operating performance improvements, trends and, in particular, the Company's productivity initiatives, litigation and other legal matters, operational improvement in the health care operations, and the outlook for the Company's full year 2009 and 2010 results. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words "believe", "expect", "plan", "intend", "anticipate", "estimate", "predict", "potential", "may", "should" or similar expressions. You should not place undue reliance on these forward-looking statements. The Company cautions that actual results could differ materially from those that management expects, depending on the outcome of certain factors.

CIGNA (NYSE:CI), a global health service company, is dedicated to helping people improve their health, well-being and sense of security. CIGNA Corporation's operating subsidiaries provide an integrated suite of medical, dental, behavioral health, pharmacy and vision care benefits, as well as group life, accident and disability insurance, to approximately 46 million people throughout the United States and around the world.

To learn more about CIGNA, visit [ www.cigna.com ].

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