Swedish Stepping Down at Anthem
(Image of Joe Swedish courtesy of Anthem Inc.)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Anthem Inc. (NYSE: ANTM) has confirmed that Chief Executive Officer Joe Swedish is stepping down. Gail Boudreax, former United Healthcare chief executive officer, will succeed Swedish effective November 20.
Boudreaux is also a board member for Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH). She served in leadership positions at UnitedHealth Group and UnitedHealthcare from 2008-2015. She has also held executive roles with Health Care Services Corp., Blue Cross and Blue Shield of Illinois and Aetna.
Swedish took the reins of the insurance provider in 2013, and became chairman in 2015. He succeeded George Shaefer as chair. At the time, Shaefer said Swedish had "built a strong record of success through a commitment to leadership, vision and innovation." Last month, Anthem reported third quarter net income of $746.9 million, up from $617.8 million during the same period the previous year. It also announced the acquisition of privately-held Medicare Advantage organization America’s 1st Choice.
Earlier this year, Anthem terminated a proposed $54 billion merger with Cigna Corp. (NYSE: CI), saying the Connecticut-based company "failed to perform and comply in all material respects with its contractual obligations."