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Cigna Shakes Up Management Ranks Amid Rising Costs
The Cigna Group has undergone a significant reshuffle in its management team, a move aimed at addressing rising healthcare costs and pressure from employer clients to maintain spending levels. This dramatic restructuring comes as the company faces mounting challenges in controlling expenses amid an influx of patients seeking medical treatment.
As part of this shake-up, Brian Evanko has been appointed president and chief operating officer, effective March 31. In his new role, he will be responsible for all business lines, reporting directly to Chairman and CEO David Cordani. Evanko’s promotion comes after a successful tenure leading Cigna Healthcare since January 2024.
The reorganization also saw Ann Dennison assume the position of executive vice president and chief financial officer, effective immediately. In her new role, she will oversee all enterprise financial operations and functions, reporting directly to Cordani and joining the company’s enterprise leadership team.
Additionally, Nicole Jones has been given expanded responsibilities as chief administrative officer and general counsel. Her portfolio now includes oversight of enterprise marketing in addition to her existing duties such as public affairs, federal and state government affairs, communications, legal, and human resources functions.
Meanwhile, Eric Palmer will be leaving the company at the end of April after a successful run leading Cigna’s Evernorth Health Services business for years. Cordani thanked Palmer for his contributions, highlighting his positive impact on the company and its ability to serve millions of customers and patients.
This management overhaul comes as Cigna reported a net income of over $3.4 billion in 2024, despite facing rising medical expenses in its employer plans. The company struggled to control costs amid an influx of patients seeking medical treatment, which executives attribute to pent-up demand for medical care delayed during the Covid-19 pandemic.
Cigna’s fourth-quarter results were significantly impacted by higher stop-loss medical costs.
