{"id":14063,"date":"2025-03-18T14:34:32","date_gmt":"2025-03-18T14:34:32","guid":{"rendered":"https:\/\/distilinfo.com\/healthplan\/?p=14063"},"modified":"2025-03-18T14:34:32","modified_gmt":"2025-03-18T14:34:32","slug":"cigna-executives-secure-major","status":"publish","type":"post","link":"https:\/\/distilinfo.com\/healthplan\/cigna-executives-secure-major\/","title":{"rendered":"Cigna Executives Secure Major Pay Increases"},"content":{"rendered":"<h2 class=\"text-xl font-bold text-text-200 mt-1 -mb-0.5\">Executive Compensation Soars in 2024<\/h2>\n<p class=\"whitespace-pre-wrap break-words\">Cigna Group recently unveiled its annual proxy report, revealing substantial compensation increases for its top executives. The report, published on March 14, shows that CEO David Cordani received a significant pay bump, earning $23.25 million in total compensation\u2014approximately $2 million more than his 2023 earnings of $21 million.<\/p>\n<h2 class=\"text-xl font-bold text-text-200 mt-1 -mb-0.5\">Leadership Restructuring Amid Pay Increases<\/h2>\n<p class=\"whitespace-pre-wrap break-words\">The healthcare giant has undergone notable leadership changes while boosting executive pay. Eric Palmer and Brian Evanko, who headed the company&#8217;s health services and insurance divisions respectively, both saw their compensation rise in 2024 compared to the previous year.<\/p>\n<p class=\"whitespace-pre-wrap break-words\">However, the executive landscape is shifting, with Palmer departing from the organization. Meanwhile, Evanko is being promoted to Chief Operating Officer, where he will take charge of both of Cigna&#8217;s primary business divisions.<\/p>\n<h2 class=\"text-xl font-bold text-text-200 mt-1 -mb-0.5\">Detailed Compensation Breakdown<\/h2>\n<h3 class=\"text-lg font-bold text-text-200 mt-1 -mb-1.5\">David Cordani, Chair and CEO<\/h3>\n<ul class=\"[&amp;:not(:last-child)_ul]:pb-1 [&amp;:not(:last-child)_ol]:pb-1 list-disc space-y-1.5 pl-7\">\n<li class=\"whitespace-normal break-words\"><strong>Salary<\/strong>: $1,573,077<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Stock awards<\/strong>: $15,214,154<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Option awards<\/strong>: $3,340,009<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Non-equity incentive plan<\/strong>: $2,720,000<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Pension value changes<\/strong>: $31,059<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Other compensation<\/strong>: $372,797<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Total compensation<\/strong>: $23,251,096<\/li>\n<\/ul>\n<h3 class=\"text-lg font-bold text-text-200 mt-1 -mb-1.5\">Eric Palmer, EVP Enterprise Strategy &amp; Evernorth CEO<\/h3>\n<ul class=\"[&amp;:not(:last-child)_ul]:pb-1 [&amp;:not(:last-child)_ol]:pb-1 list-disc space-y-1.5 pl-7\">\n<li class=\"whitespace-normal break-words\"><strong>Salary<\/strong>: $1,000,000<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Stock awards<\/strong>: $5,813,611<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Option awards<\/strong>: $1,725,052<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Non-equity incentive plan<\/strong>: $1,840,000<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Other compensation<\/strong>: $51,825<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Total compensation<\/strong>: $10,430,488<\/li>\n<\/ul>\n<h3 class=\"text-lg font-bold text-text-200 mt-1 -mb-1.5\">Brian Evanko, EVP\/CFO &amp; Cigna Healthcare CEO<\/h3>\n<ul class=\"[&amp;:not(:last-child)_ul]:pb-1 [&amp;:not(:last-child)_ol]:pb-1 list-disc space-y-1.5 pl-7\">\n<li class=\"whitespace-normal break-words\"><strong>Salary<\/strong>: $994,231<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Stock awards<\/strong>: $5,813,611<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Option awards<\/strong>: $1,725,052<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Non-equity incentive plan<\/strong>: $1,700,000<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Other compensation<\/strong>: $51,738<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Total compensation<\/strong>: $10,284,632<\/li>\n<\/ul>\n<h2 class=\"text-xl font-bold text-text-200 mt-1 -mb-0.5\">Additional Executive Earnings<\/h2>\n<p class=\"whitespace-pre-wrap break-words\">The proxy report also detailed compensation for other key executives at Cigna Group:<\/p>\n<h3 class=\"text-lg font-bold text-text-200 mt-1 -mb-1.5\">Noelle Eder, EVP &amp; Global CIO<\/h3>\n<ul class=\"[&amp;:not(:last-child)_ul]:pb-1 [&amp;:not(:last-child)_ol]:pb-1 list-disc space-y-1.5 pl-7\">\n<li class=\"whitespace-normal break-words\"><strong>Salary<\/strong>: $868,269<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Stock awards<\/strong>: $3,012,429<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Option awards<\/strong>: $893,791<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Non-equity incentive plan<\/strong>: $972,000<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Other compensation<\/strong>: $41,974<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Total compensation<\/strong>: $5,788,463<\/li>\n<\/ul>\n<h3 class=\"text-lg font-bold text-text-200 mt-1 -mb-1.5\">Nicole Jones, EVP, CAO &amp; General Counsel<\/h3>\n<ul class=\"[&amp;:not(:last-child)_ul]:pb-1 [&amp;:not(:last-child)_ol]:pb-1 list-disc space-y-1.5 pl-7\">\n<li class=\"whitespace-normal break-words\"><strong>Salary<\/strong>: $868,269<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Stock awards<\/strong>: $3,012,429<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Option awards<\/strong>: $893,791<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Non-equity incentive plan<\/strong>: $972,000<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Pension value changes<\/strong>: $1,049<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Other compensation<\/strong>: $40,624<\/li>\n<li class=\"whitespace-normal break-words\"><strong>Total compensation<\/strong>: $5,788,162<\/li>\n<\/ul>\n<h2 class=\"text-xl font-bold text-text-200 mt-1 -mb-0.5\">Equity-Based Compensation Dominates<\/h2>\n<p class=\"whitespace-pre-wrap break-words\">A closer analysis of the compensation structure reveals that equity-based pay\u2014consisting of stock and option awards\u2014represents the largest portion of executive compensation packages at Cigna. This approach aligns executive interests with shareholder value, a common practice among large healthcare corporations.<\/p>\n<h2 class=\"text-xl font-bold text-text-200 mt-1 -mb-0.5\">Industry Implications<\/h2>\n<p class=\"whitespace-pre-wrap break-words\">These significant compensation packages reflect the competitive nature of executive recruitment and retention in the healthcare industry. 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Join our community today!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Executive Compensation Soars in 2024 Cigna Group recently unveiled its annual proxy report, revealing substantial compensation increases for its top&#8230; <a href=\"https:\/\/distilinfo.com\/healthplan\/cigna-executives-secure-major\/\" style=\"white-space: nowrap;\">Continue Reading <i class=\"fas fa-long-arrow-alt-right\" style=\"vertical-align: middle;\"><\/i><\/a><\/p>\n","protected":false},"author":1,"featured_media":14064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[901,897,907,900,904,908,898,902,905,906,899,903,909],"class_list":{"0":"post-14063","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-distilinfo-originals","8":"tag-brian-evanko-promotion","9":"tag-cigna-executive-compensation","10":"tag-cigna-group-executives","11":"tag-cigna-leadership-changes","12":"tag-cigna-proxy-report","13":"tag-corporate-leadership-restructuring","14":"tag-david-cordani-salary","15":"tag-eric-palmer-exit","16":"tag-executive-stock-awards","17":"tag-healthcare-ceo-pay","18":"tag-healthcare-executive-pay","19":"tag-healthcare-industry-compensation","20":"tag-healthcare-sector-leadership","21":"entry"},"_links":{"self":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts\/14063"}],"collection":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/comments?post=14063"}],"version-history":[{"count":1,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts\/14063\/revisions"}],"predecessor-version":[{"id":14065,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/posts\/14063\/revisions\/14065"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/media\/14064"}],"wp:attachment":[{"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/media?parent=14063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/categories?post=14063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/distilinfo.com\/healthplan\/wp-json\/wp\/v2\/tags?post=14063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}