The nation’s largest health insurer,
UnitedHealth said it is creating a new “Office of the Chief Executive” amid the departure of Gail Boudreaux, 54, who had led the company’s health insurance division. In a statement this morning, UnitedHealth said Boudreaux, one of the highest-ranking women executives in the health care industry, successfully achieved the “growth and performance goals that were set when she joined the company in 2008.”
Boudreaux, who some observers thought would one day succeed Stephen Hemsley as UnitedHealth’s CEO, held a prominent role at the insurance giant, joining the company after running Blue Cross and Blue Shield of Illinois throughout the early part of this decade.
Boudreaux was regularly featured in meetings and conference calls with Wall Street analysts and investors and was guiding the company’s major expansion offering more products for next year on public exchanges under the health law. She appeared on a panel of top health insurance executives at the 2013 Forbes Healthcare Summit. (See the video of the panel below).
Boudreaux was unavailable for comment. But company CEO Hemsley said in a statement that Boudreaux “brought many contributions” to the company including “her executive leadership, the focus she brought to local health care markets, building our culture and fostering innovation, as well as for her fellowship and counsel.”
With her departure, the new Office of the Chief Executive will consist of Hemsley” Larry Renfro and David Wichmann who will take on new - and for at least some period of time- additional responsibilities.
Wichmann, 52, will serve as President, overseeing all of UnitedHealth’s domestic and international business and for “overall UnitedHealth Group performance.” Wichmann, who oversaw the United Healthcare business before Boudreaux arrived, will transition out of his current chief financial officer role in the next year to 18 months.
Renfro, 60, will remain CEO of Optum and as “newly named Vice Chairman,” and assume additional oversight responsibilities including client relationships and company growth initiatives.
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