business

Cigna treasurer named acting CFO

NEWS IN BRIEF — Posted Sept. 13, 2010

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The search is on for a new chief financial officer at Philadelphia-based Cigna following the sudden announcement that CFO and Executive Vice President Annmarie Hagan was leaving effective Sept. 1.

Hagan was named to the top finance spot in May 2009 after 22 years at Cigna.

"Ms. Hagan's departure was not caused by any dispute or disagreement over the company's accounting principles or practices, financial statement disclosures, ethics policy or otherwise," a filing with the Securities and Exchange Commission said.

The filing said Hagan's severance package was worth $3.4 million.

Cigna Treasurer and Vice President Thomas A. McCarthy was named acting CFO. McCarthy has been treasurer since 2008, and has been responsible for Cigna's "strategy and corporate development," overseeing mergers and acquisitions, among other duties.

Note: This item originally appeared at http://www.ama-assn.org/amednews/2010/09/13/bibf0913.htm.

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