Health insurance companies are going through many changes at the moment. For Aetna, this is just one more: their CEO, Ronald A. Williams, is stepping down from that role next month. (He will retire from the company entirely early next year.) Williams was the chief executive officer since 2006, and was in charge of the lucrative segment of health insurance plans during a period of soaring costs.
Who will replace him? Aetna President Mark T. Bertolini is being promoted to fill the gap. Bertolini will also have a seat on the board of directors. However, Williams will still be involved as a consultant on healthcare reform issues until February 2012. He will receive $20,000 a month for those services, in addition to a retirement package valued at over $7 million. (Presumably, his health insurance is fully covered.)