H. Edward Hanway served as the CEO of The Cigna Group until his retirement in December 2009. He has a long history with the company, having been with Cigna since 1973, and played a pivotal role in its growth and...
H. Edward Hanway served as the CEO of The Cigna Group until his retirement in December 2009. He has a long history with the company, having been with Cigna since 1973, and played a pivotal role in its growth and success. Hanway transitioned to the CEO role in January 2000 and was known for implementing performance-based pay systems, aligning executive compensation with company success. Under his leadership, Cigna initiated several compensation structures that focused on rewarding results. By the time he retired, Hanway had accumulated significant stock holdings, demonstrating his confidence in the company. His retirement agreement included provisions for a substantial pension and various benefits, including management incentives that highlighted his contributions to Cigna's profitability. He also left behind an appreciated value in strategic performance units, showing that he aimed for long-term growth even after his departure. Hanway’s tenure illustrated the importance of aligning executive pay with performance, a principle that Cigna has continued to embrace, making decisions not just for immediate results but for durable growth as well.