It's very clear by the town halls that he has been in the forefront of that labor force reduction is his goal. Someone needs to get this guy sensitivity training or put a mouthpiece in front of him. He's making it very clear that the people doing the work are of little long term value.
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@147 Ha! “A high level of arrogance combined with cluelessness” should be the new company slogan.
It’s certainly clearer and more accurate than “Lead to one.”
@117 I tend to agree. The stated value of the Express Scripts acquisition never materialized. Evernorth is just smoke and mirrors. It ended up being just a PBM and specialty pharmacy, basically the same as ESI was previously. There has been no extra value from the combination of companies. The PBM performed well for a number of years but is now under massive pressure - both from the market/clients and the federal government. The future of Evernorth is bleak and I see many red flags from the inside (I'm in the Pharmacy business).
But even worse was the ESI culture that infected Cigna. The high level of arrogance combined with cluelessness has permeated senior leadership and is the root of many of the company's current problems. The other main problem is Cigna's refusal to fix core IT infrastructure issues that have plagued the company for many years and caused many of our expense and inefficiency issues.
Buying Express Scripts is what ruined the company and its culture. No one knew what Evernorth was for years. Drive to 2025 never made sense. Blew a ton of money on a government business they ended up dumping at a huge loss. The entire C Suite has turned over, and in some cases two or three times.
Evanko is in way over his head. It's embarrassing that he ever got the CEO job. He's failed at most jobs he's held at Cigna (IFP, Medicare, CFO). Always remember that he was CFO during the time when Cigna's expenses got out of control. Now he acts like he had nothing to do with it.
It’s a balance of powers, result of negotiations
@k0 Basically Blackrock owns and calls the shots for all these large health insurance corporations. Them and JP Morgan and a few other large financial firms. Some are even overseas.
@j7 you really think cordani retired of his own volition??? Evanko has been pulling the strings from behind the scenes.
There are ten other board members and none of them have any connection to cigna, other than their stockholdings. So long as the stock keeps going up, nothing's gonna happen to evanko, no matter how much cordani tries to push him out or keep him on a short leash
None of this is Evanko's strategy. Cordani has total control over him. He put him in the CEO spot because he knew he could control him. Now he's executive chairman of the board, watching closely over Brian's shoulder ensuring he does exactly as he's told.
Cigna expanded under Cordani, in part based on industry trends, anticipated efficiencies & cost savings, and regulatory conditions. The strategy worked until conditions and markets shifted. IMHO Cordani and his board took unneccesary risk and overdid it. But it did pay off as the company grew at a big rate that was reflected in the stock price and the cost basis of the organization. But the bill always comes due. The markets and regulatory conditions have shifted and the writing is on the wall.
Cigna will not survive long term in it's current state.
Evanko is a bean counter. Bean counters have no problem doing what the spreadsheet says. Everyone and everything is just a number on a speadsheet. It's not emotional, it's math. We get emotional, we have a life and a routine, we care about our work, and we like to think it matters. We take it personally. We don't control what the organization does, and its not fair. Years of service, good people gone while sycophants stay. Lives affected beacuse a spreadsheet says so.
That's life. We all take risks, some times it doesn't work out. The cr-ppy part is Cordani wallks away a billionare, we walk away with a mortgage and a family to support.
The next two years won’t be quiet. Evanko’s framing on the call (”management focus, relative size and scale, as well as the degree of standardization and automation”) is a four-variable test for any line of business. Run it against any Cigna segment and you can sketch the answer he’ll reach in 2027. Lines earning their capital and management bandwidth get more of both. The lines that don’t earn their keep get strategic alternatives or divestitures.
The lens has changed. Cordani built. Evanko prunes. Both are coherent strategies. They produce different companies and different relationships with everyone selling into them.
https://upwardgrowth.substack.com/p/an-actuary-is-about-to-run-cigna
@a4 gtfo boomer, bet you have mouths to feed and entire mortgage to pay off goofy ahhh 🤣
@OP Evanko said World Cup final would be between England and Spain. Unfortunately he was wrong. He seems just keep making mistakes 😀
Yeah, fu-k transparency. All company’s are like this. Deliver or get the fu-k out