Aetna's Ronald Williams Named CEO

Dr. Rowe, who has served as the company’s chairman since April 1, 2001 and CEO since Dec. 13, 2000, will serve as executive chairman from Feb. 14 until his retirement.
In his five-year tenure, Dr. Rowe has raised the insurer's market value by more than $23 billion.

"Some time ago, I initiated discussions with the board regarding my desire to retire upon the expiration of my current contract, which runs through 2006," Dr. Rowe said. "As a result of a very thorough succession planning process, we decided that naming Ron Williams CEO early in the year would provide for an orderly transition."

Williams, who was previously group president at WellPoint Health Networks Inc., joined Aetna in March 2001 to run health operations. He was promoted to president in May 2002 after helping Rowe post the company's first profit in a year and a half. Williams was tasked with helping to integrate Aetna's life, disability and long-term care business with health care, Rowe said at the time.

"Ron has been a full partner with me in leading the Aetna turnaround and returning the company to profitable growth," Dr. Rowe said. "The board of directors is very confident that Ron is the right person to lead the company to our next goal of attaining industry leadership."

Rowe, a former physician, bolstered earnings by dropping unprofitable customers and slashing costs. Aetna has since resumed enrollment growth, reaching 14.7 million people in its medical plans as of Sept. 30.

Williams said Aetna benefited from a "tremendous platform we've built over the last few years," and that his challenge will be "to make Aetna the most preferred health plan by consumers, plan sponsors and physicians."