The Cigna Group (NYSE:CI) shares are trading lower Tuesday after the company announced that David Cordani will retire as CEO.
CEO Transition Announced For July 2026
The company said Cordani will become executive chair of the Board of Directors upon his retirement as CEO. Brian Evanko, current president and COO, will succeed Cordani as CEO effective July 1. Evanko has also been elected to the company's Board of Directors.
Evanko currently oversees the company's businesses across its growth platforms, Cigna Healthcare and Evernorth Health Services. The company said he has held prior roles including president and CEO of Cigna Healthcare and CFO of The Cigna Group.
"Brian is an exceptional leader and the right person to guide The Cigna Group into its next chapter," Cordani said in a statement.
The company said Cordani and Evanko will work closely during the transition period through July 1, when Evanko will assume the role of CEO and Cordani will become executive chair.
The Cigna Group also reaffirmed its 2026 financial outlook.
Cigna Shares Edge Lower
CI Price Action: At the time of publication, Cigna shares are trading 5.70% lower at $274.28, according to data from Benzinga Pro.
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