Eric Palmer, a long-standing executive at the Cigna Group who has played pivotal roles in the company’s strategic development, will be leaving the healthcare giant this month. According to regulatory filings made public on April 18, Palmer’s exit package includes a substantial $5.2 million cash payment along with an estimated $4.8 million in stock options, totaling approximately $10 million in departure compensation.
Palmer, who currently serves as both executive vice president of enterprise strategy for the Cigna Group and CEO of Evernorth Health Services, joined Cigna in 1998 and has been instrumental in shaping the company’s growth trajectory over his 26-year tenure.
Leadership Restructuring Strategy
The departure comes amid significant leadership restructuring at Cigna. In March, the company announced that Brian Evanko, the current CEO of Cigna Healthcare, would expand his responsibilities to include leadership of Evernorth, the company’s health services division previously headed by Palmer.
This strategic consolidation represents a major organizational shift as Cigna Group CEO David Cordani aims to streamline operations by bringing the two critical divisions—healthcare coverage and health services—under unified leadership. The move is expected to enhance operational efficiency and create more seamless integration between Cigna’s various business segments.
Palmer’s Compensation and Legacy
Palmer’s financial standing at Cigna has been notable. In 2024, he ranked as the company’s second highest-paid executive with a total compensation package of $10.4 million. His appointment as CEO of Evernorth in 2021 marked a significant milestone in his career progression at the company.
During his leadership at Evernorth, Palmer oversaw the health services arm that includes pharmacy benefit manager Express Scripts, specialty pharmacy Accredo, and virtual care services. His strategic vision helped position Evernorth as a key revenue driver for the Cigna Group in recent years.
Industry Implications
Palmer’s departure represents another shift in the healthcare executive landscape, where leadership stability is increasingly rare amid industry consolidation and transformation. The substantial exit package reflects both his senior position and the company’s recognition of his long-term contributions.
For Cigna, this executive transition occurs at a critical time when healthcare organizations are navigating complex challenges including regulatory pressures, technological disruption, and evolving consumer expectations. How the company manages this leadership change will likely influence investor confidence and organizational momentum in the coming quarters.
Future Direction Under Consolidated Leadership
With Evanko now assuming leadership of both Cigna Healthcare and Evernorth, industry analysts will be watching closely to see how the consolidated structure affects the company’s market positioning and strategic initiatives. The integration of these divisions under one leader could potentially accelerate decision-making and create new opportunities for cross-divisional synergies.
Cigna Group CEO David Cordani emphasized in March that this restructuring aims to enhance the company’s ability to deliver value-based care solutions and improve coordination between its insurance and health services operations. The move aligns with broader industry trends toward more integrated healthcare delivery models.
As Palmer prepares for his April 26 departure, questions remain about his next career move and whether he will continue to influence the healthcare sector in new capacities after leaving the organization he served for more than a quarter-century.
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