HARTFORD, Conn., April 27 (UPI) -- Health-insurance giant Aetna Thursday said its executive chairman and chief financial officer would retire within one year.
Aetna Executive Chairman John Rowe said he will retire from his post Oct. 1, while Aetna Senior Vice President and Chief Financial Officer Alan Bennett announced his plans to step down in the first quarter of 2007.
The company's CEO and President Ron Williams will take Rowe's place as executive chairman, Aetna said in a statement. Rowe assumed the post of executive chairman in 2001.
"Since Ron became CEO February 14, the board has reviewed Aetna's governance structure and concluded that appointing Ron to be Chairman will best serve the interests of Aetna's shareholders, customers members, employees, and others who use our services," Rowe said.
Aetna said it would launch a "comprehensive search" to find Bennett's replacement. Bennett took over as the health insurer's CFO in 2001, first joining Aetna in 1995 as CFO of Aetna Business Resources.