Jirsak / iStock
Health insurer Anthem has announced that Joseph Swedish will be replaced by Gail Boudreaux as its chief executive officer and president.
Swedish, currently the chairman, president and CEO of Anthem, will step down in May 2018. He will continue to serve as executive chairman, Anthem board of directors and become a senior advisor through May 2020.
Boudreaux will also be appointed to the company's board of directors.
Boudreaux recently served as CEO of United Healthcare, the medical insurance subsidiary of UnitedHealth Group, where she had responsibility for approximately $120 billion in revenue, managed 60,000 employees and grew membership by more than eight million members in just six years.
Prior to United Healthcare, Boudreaux served as executive vice president of Health Care Services Corporation with responsibility for Blue Cross/Blue Shield plans in Illinois, Texas, Oklahoma, and New Mexico and earlier as president of Blue Cross/Blue Shield of Illinois. She began her career in Aetna’s Management Development Program, serving in a variety of capacities over the course of two decades.
"Gail Boudreaux is a decisive leader with deep expertise in the health care industry and an outstanding track record of driving results throughout her impressive career," said George Schaefer, Jr., lead independent director, Anthem board of directors.
"The Anthem Board is confident Gail will draw from her extensive experience to deliver strong operating performance, excellent financial results and a laser focus on customer experience and shareholder value. In an evolving industry, Gail brings the right skills for the times."
Schaefer added: "The Board wants to thank Joe Swedish for his visionary leadership and steadfast commitment to expanding access to high quality, affordable health care during a dynamic time for our company and our industry. We are fortunate that, as a result of Joe’s leadership, we have a foundation of strong performance that allows us the opportunity to transition to a new chief executive officer.
"During his tenure, Anthem has exceeded consensus earnings expectations every year; Anthem membership has grown by four million (or 11 percent) to 40 million; the average Anthem share price has approximately tripled; and operating revenue has increased 39 percent to over $89 billion. Joe has reinvigorated the company’s culture, built a strategic growth platform, and put Anthem on track to realize our vision of being America’s valued health partner. The entire board would like to express our gratitude to Joe for his invaluable contributions.”
Swedish commented: "Gail is widely recognized as a very successful executive in the health care industry. I am confident that her depth of experience will be of great benefit to our company, our associates and our members. It has been a privilege to lead Anthem and work with our more than 53,000 associates across the nation. As we move ahead, I look forward to working closely with Gail in this new capacity."
Boudreaux said: "For more than 75 years, Anthem has worked tirelessly to make a positive difference in the lives of Americans. I’m honored to lead the organization into the future and continue to improve the lives of those we serve. We are dedicated to connecting our customers to the right resources so that they can realize their health care goals while simplifying the health care experience for them."
Anthem, Appointment, CEO, Joseph Swedish, Gail Boudreaux, George Schaefer, Jr., US