David M. Cordani, the long-serving chief executive officer of Cigna Group, will retire on July 1, 2024, after 17 years at the helm. His successor, Brian Evanko, currently Cigna’s president and chief operating officer, has been chosen from the company’s senior leadership to lead the health insurance giant into its next chapter.
Cordani, who joined Cigna in 1991 and became CEO in 2009, will remain engaged with the company as chairman of the board of directors before transitioning to the role of executive chairman. During his tenure, Cigna has transformed from a traditional insurer serving 46 million customers with an annual revenue of $18 billion to a global health company boasting 180 million customers and projected annual revenue of $275 billion in 2025.
Cigna praised Evanko’s “visionary leadership,” which has resulted in strong financial performance amid significant changes within the healthcare sector. As president and chief operating officer, Evanko has overseen the company’s diverse business portfolio, which includes Cigna Healthcare and Evernorth Health Services, the latter encompassing the Express Scripts pharmacy benefits manager.
In a statement, Evanko expressed enthusiasm about taking the reins, stating, “I am excited to build on our strong foundation as we work to further modernize health care, expand our reach, and fuel growth.” He emphasized his commitment to transformative innovation, leveraging data, technology, and artificial intelligence to enhance affordability and personalization in healthcare.
Cordani highlighted the necessity for change in the healthcare landscape, remarking, “The status quo in health care today is unsustainable.” He believes Evanko’s leadership is crucial for continuing Cigna’s momentum and delivering impactful changes for customers.
As CEO, Evanko’s base salary will be $1.3 million, with the potential for an annual bonus of up to $2.6 million, along with additional long-term incentives that could significantly increase his overall compensation, as detailed in a regulatory filing.
Eric Wiseman, the lead independent director on Cigna’s board, emphasized that Evanko will be stepping into a role that has experienced substantial transformation and growth under Cordani’s leadership. Wiseman noted the impressive trajectory of Cigna, which has seen its revenues grow by 11% from the previous year.
In 2025, Cigna reported a net income of $6 billion, translating to $22.18 per share, a substantial increase from $3.4 billion in 2024, which had included a significant one-time investment loss. The board of directors also announced an increase in the quarterly shareholder cash dividend to $1.56 per share, up from $1.51.
Cigna has made strategic shifts in its business mix over the past two years, including the sale of its Medicare Advantage, Supplemental Benefits, and Part D businesses to Health Care Services Corporation. Despite the sale, Cigna retains a presence in the Medicare sector, with Express Scripts continuing to provide services for the sold businesses for the next four years.
Evanko played a key role in this strategic shift, focusing on commercial and employee-sponsored plans. His leadership comes at a pivotal time, shortly after Cigna’s Express Scripts reached a settlement with the Federal Trade Commission regarding allegations of inflated insulin prices.
Under this settlement, Express Scripts did not face financial penalties or admit to wrongdoing but agreed to implement operational changes. This development signals ongoing scrutiny and transformation within the pharmacy benefits space.
Cigna also emphasized its commitment to corporate social responsibility, highlighting its charitable contributions of $52 million globally in 2025, including $3.8 million to organizations in Connecticut. The company logged over 113,751 volunteer hours, with 8,785 of those in Connecticut.
As Cigna embarks on this new chapter with Evanko at the helm, the company remains focused on enhancing its services and addressing the evolving needs of its customers and clients in a dynamic healthcare environment.
