Cigna Elevates COO Evanko to Lead Major Business Model Pivot.

The article focuses on the leadership transition at Cigna, a major health insurer, as CEO David Cordani steps down on July 1 and is succeeded by Chief Operating Officer Brian Evanko amid a significant business model overhaul. Evanko, who has been with Cigna since 1998 and held key roles including finance chief and head of health benefits, will lead the company through changes aimed at addressing regulatory pressures and cost-control challenges in the health care industry. The overhaul includes moving away from controversial drug rebate practices, which has caused investor concern and a recent drop in Cigna’s stock price. Cordani, who has led Cigna since 2009 and orchestrated major deals like the acquisition of Express Scripts, will become executive chair. The company expects margin pressures in the near term but maintains confidence in its long-term earnings outlook. [Extracted from the article]