Summary Box: Aetna CEO to retire

AP News
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Posted: Oct 20, 2010 1:29 PM
Summary Box: Aetna CEO to retire

MOVE AT THE TOP: Aetna Chairman and CEO Ronald A. Williams will retire next spring, and company President Mark T. Bertolini will replace him in a widely expected leadership change for the health insurer.

NOT A SURPRISE: Morgan Stanley analyst Doug R. Simpson said investors are "fairly well-acquainted" with Bertolini, and most expected the move. Ana Gupte, an analyst at Sanford Bernstein, said Bertolini is "very capable" of doing the job.

HISTORY AT AETNA: Bertolini, 54, joined the company in 2003 and was named president in 2007. Earlier, he served as a senior vice president with Aetna competitor Cigna Corp. and as CEO of SelectCare Inc., a Detroit-area company.